Summary
This 8-K/A filing from Interactive Brokers Group (IBKR) on March 19, 2008, serves as an amendment to correct a previously disclosed detail regarding the balance of securities borrowed. The company is clarifying that its securities borrowed balance at the end of 2007 was approximately $7 billion, not $15 billion as initially referenced by CEO Peterffy during an investor call hosted by Fox-Pitt Kelton on March 19, 2008. Investors should note this correction as it pertains to the company's leverage and balance sheet management. While the initial figure may have caused concern, the corrected figure of $7 billion provides a more accurate picture of the company's financial position at year-end 2007. The filing also provides details for accessing a replay of the investor call for further context.
Key Highlights
- 1Amendment filed to correct a factual error regarding the balance of securities borrowed.
- 2Corrected balance of securities borrowed at December 31, 2007, is approximately $7 billion.
- 3Initial reference stated the balance was approximately $15 billion.
- 4The correction was made during an investor call hosted by Fox-Pitt Kelton on March 19, 2008.
- 5CEO Peterffy made the initial reference to the incorrect figure.
- 6Replay information for the investor call is provided for public access.
- 7The filing emphasizes that furnished information is not deemed 'filed' for Section 18 purposes.