Technology Crossover Management increased its stake to 4,728,838 shares (11.67%), buying 925,768 shares from July 13 to July 30 at $17.41 per share.

Technology Crossover Ventures disclosed that it now holds 3,803,770 shares (9.38%). The firm bought 3,780,070 shares at an average price of $15.37 each from June 23 to July 10, and said it had acquired the stock for investment purposes.

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Street coverage will increase when float increases. International opportunities. Possible upside in OneChicago single stock futures ownership.

Sandler O'Neill analyst Richard Repetto thinks the MF taint may be at work here, and hastens to point out how "Interactive Brokers is not MF Global." While the Greenwich, Conn., firm assumes principal risk, Repetto has faith in its rigorous risk management, especially its system for calibrating real-time margins.

In fact, market turmoil generally is good news for Interactive Brokers. The firm makes markets electronically in 350,000 securities and products around the world, and also operates a low-cost electronic brokerage firm. Both benefit from the kind of volatility roiling the stock market this quarter, since it drives increased trading of options and futures.

In fact, chatter abounds that rival market makers -- especially those affiliated with Wall Street banks or firms -- recently are taking a more conservative tack and aren't quoting prices as aggressively as before. This potentially reduces competition and allows Interactive Brokers "to generate wider spreads and capture more market share," Repetto says. And at about 30, shares trade at a reasonable 15.6 times projected 2008 profits.

Im a buyer on this one...there is a good reason why peterffy owns 85% of this company. He is a brilliant self educated individual and you should invest your money with brilliant people. I mean christ, he was the first one to bring a computer pricing model to the floor and taught himself programming in the 70's a time when it was like teaching yourself rocket science. This company is more in line with the future of an evolving industry than any of its competitors.

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Recommendatoin

From Barron's 7-30-07:

"Interactive Brokers is a discount broker and derivatives market maker, whose shares are 23% below their May 4 IPO price of $30. The stock valuation, a bit rich at the IPO price, is a reasonable 14 times 2008 profits. Interactive, interestingly, would benefit from an M&A slowdown -- it gets gaffed when traders use options to front-run unannounced deals."

can't figure this stock out