Interactive Brokers Founder Thomas Peterffy Adopts Rule 10b5-1 Trading Plan

Electronic trading giant Interactive Brokers has filed with the U.S. Securities and Exchange Commission (SEC) a trading plan adopted by its founder and chairman, Thomas Peterffy.

Mr Peterffy adopted a Rule 10b5-1 trading plan on January 28, 2023  to proceed with the sale of his personally held Class A common stock of the Company received in prior redemptions.

Subject to terms of the plan and SEC Rule 144, Mr Peterffy will sell up to 20,000 shares of the Company's Class A common stock per day at the prevailing market prices. The transaction will continue until the date on which all shares are sold, which is July 29, 2023, or the planned sale is terminated in accordance with its terms and applicable law, whichever is earlier.

Meanwhile, according to the terms of the plan, Mr Peterffy has no right to control the specific timing of the stock sale.

All transactions under the program will be disclosed on appropriate filings with the SEC in accordance with applicable securities laws, rules and regulations.

The broker yesterday released its Electronic Brokerage monthly performance metrics for January 2023​, showing the number of clients accounts in the month came in at 2.13 million, up 23% on a yearly basis and 2% month-on-month. The trading volume of the Daily Average Revenue Trades (DARTs) stood at 1.988 million, 14% higher than prior month.