Interactive Brokers Group, Inc. (NASDAQ:IBKR) Q2 2024 Earnings Conference Call July 16, 2024 4:30 PM ET

Company Participants

Nancy Stuebe - Director of Investor Relations
Paul Brody - Chief Financial Officer
Milan Galik - President and Chief Executive Officer

Conference Call Participants

Ben Budish - Barclays
Craig Siegenthaler - Bank of America
James Yaro - Goldman Sachs
Dan Fannon - Jefferies
Kyle Voigt - KBW
Patrick Moley - Piper Sandler
Macrae Sykes - GAMCO
Chris Allen - Citi

Operator

Hello, and thank you for standing by. Welcome to Interactive Brokers Group Second Quarter 2024 Earnings Call. At this time all participants’ are in a listen-only mode. After the speakers’ presentation there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the conference over to Nancy Stuebe. You may begin.

Nancy Stuebe

Thank you. Good afternoon, and thank you for joining us for our second quarter 2024 earnings call. Joining us today are Thomas Peterffy, our Founder and Chairman; Milan Galik, our President and CEO; and Paul Brody, our CFO. I will be presenting Milan's comments on the business and all three will be available on the Q&A.

As a reminder, today's call may include forward-looking statements which represent the company's belief regarding future events, which by their nature are not certain and are outside of the company's control. Our actual results and financial condition may differ, possibly materially, from what is indicated in these forward-looking statements. We ask that you refer to the disclaimers in our press release. You should also review a description of risk factors contained in our financial reports filed with the SEC.

This quarter, world markets began to move in divergent ways as stock markets, central banks, and geopolitical cross-currents played out. The S&P 500 rose this quarter, while other previously strong markets such as Europe, Canada, Japan, China, and Australia all declined after positive first quarter market results. Further differences were seen on the central bank front as the U.S. Federal Reserve chose to maintain benchmark rates this quarter, while in other developed countries like Canada, Europe, and Switzerland, central banks started to cut rates beginning with 25 basis points.

One ongoing fact that has not changed however is a popularity of investing with global interest from investors, who increasingly want broad portfolios and international access. The secular global investment trend remains that investors allocate some of their portfolio to securities in their home markets, but a more significant portion to overseas securities, particularly in the U.S,.