IBKR is on the move today and guess what? It aint up

Quote from bwolinsky:

We'll last up to position limits. And once we're there, we'll get subscribers to the point that they'll also have to worry about position limits.

2000 units is that maximum, and it is the limit because up to 5 NQ per unit can be traded, while 10,000 contracts is the limit.
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You are hilarious. You trade 175k or so and are worried about position limits. HILARIOUS. I believe you once said you were concerned with position limits in Nasdaq futures. Well...seeing how it's 25,000 contracts in the NQ I don't believe you have much to worry about. That is unless The CME lowers margins to $2500 to $7.00.

Funny how you claim all this greatness of your strategy but on Covestor your fund was down like 4% since inception and up a whopping 1% in 2012.

You are the classic blabbermouth who posts on ET about how great they are. It's clowns like you who drove the real traders like myself away from posting meaningful things on here. ET has become a site for pure entertainment....that's all.
 
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http://youtu.be/I5_K_pUKEJY
 
IB details risk factors of the unresolved accounting question described in the latest 10-Q:

Interpretation from the SEC may have a material impact on previously filed financial statements.

As previously disclosed on the Company’s Form 8-K filed on May 15, 2012, the Company has historically classified non-controlling interests as a component of permanent equity capital. The Company intends to request the SEC interpretation promptly following this filing, and to seek to resolve this issue by June 30, 2012. However, there can be no assurance that the SEC will issue guidance on this issue by such date, or at any time. If the ultimate resolution of any of the above matters results in an accounting treatment other than as currently reported, there may be a material impact on the previously filed consolidated statement of financial condition that may require that such financial statement be restated.

Our failure to obtain the review required by Regulation S-X and the resulting status of our Form 10-Q for the quarter ended March 31, 2012 as not having been filed on a timely basis, will render us ineligible to file registration statements on Form S-3, to use our existing shelf registration statement on Form S-3 or our registration statement on Form S-8, and may have other adverse consequences, such as potential material impacts on covenants contained in our contractual commitments, our obligations under NASDAQ Stock Market listing standards, and compliance with applicable securities laws.

Meanwhile top IB insiders, including CFO Brody, sold IBKR shares on May 9th, one day before the missed 10-Q filing deadline.

See:
http://www.interactivebrokers.com/en/general/about/filings.php?ib_entity=ir
 
Check out my trades today and the commissions that I paid in IB. If any broker can can offer me better commission (at least 20% lower) I would consider it.
 

Attachments

"The accounting treatment being examined has no effect on reported results of operations or earnings per share, or on the valuation or classification of assets or liabilities, for the current period or any previously reported periods; nor does it impact total equity, when including non-controlling interests. "


So which is it? Ya gots to hate how complex these filings are, no normal person can hope to make sense of them . Maybe that's the idea.
 
Quote from stock777:

"The accounting treatment being examined has no effect on reported results of operations or earnings per share, or on the valuation or classification of assets or liabilities, for the current period or any previously reported periods; nor does it impact total equity, when including non-controlling interests. "


So which is it? Ya gots to hate how complex these filings are, no normal person can hope to make sense of them . Maybe that's the idea.
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Agreed. Maybe the company will address the issue in a press release that better explains what may happen if the SEC does not agree with the company's preferred accounting method.
 
Quote from stock777:

"The accounting treatment being examined has no effect on reported results of operations or earnings per share, or on the valuation or classification of assets or liabilities, for the current period or any previously reported periods; nor does it impact total equity, when including non-controlling interests. "


So which is it? Ya gots to hate how complex these filings are, no normal person can hope to make sense of them . Maybe that's the idea.
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Stock777, I think the key to figuring out the apparent contradiction you discovered between the 8-K language you cite and the 10-Q language regarding risk factors is the "when including non-controlling interests" part of the sentence.

If the SEC decides that Deloitte's concerns have merit, then IBKR may not be able to include the non-controlling interests attributable to IBG Holdings as permanent equity.
 
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