INTERACTIVE BROKERS LAUNCHES FORECAST CONTRACTS ON ECONOMIC AND CLIMATE EVENTS

GREENWICH, Conn., June 27 (Bernama) -- Interactive Brokers Group (Nasdaq: IBKR), an automated global electronic broker, is pleased to announce that its wholly-owned subsidiary, ForecastEx LLC, has received the necessary designations from the Commodity Futures Trading Commission (CFTC) to operate a contract market and derivative clearing organization. ForecastEx starts operations on Monday, July 8, 2024, and Interactive Brokers clients from eligible countries will have immediate access. Interactive Brokers is the first Futures Commission Merchant to join as an exchange member.

“ForecastEx is a prediction market that we have been working on and experimenting with for nearly 10 years,” said Thomas Peterffy, Chairman and Founder of Interactive Brokers Group. “Planning for the future is the ultimate task for any business leader, government official or individual. For those plans to work according to expectations, they must fit into unfolding conditions resulting from all our actions. The more perfect information we have about the state of the world, the more perfectly we can plan and coordinate our actions. Markets are the most direct ways of expressing our unbiased expectations, and market prices tell us the prevailing consensus. We may adjust our plans based on consensus forecasts or express our disagreement to earn a profit or hedge our exposures.”