Interactive Brokers is replacing Walgreens on the S&P 500 after a surge in trading activity boosted its stock. The company saw a 35% increase in stock price this year and a 95% increase over the past 12 months. It has also experienced significant growth in daily trades, customer accounts, and equity.

Founder Thomas Peterffy expressed surprise at the S&P 500 inclusion, noting the firm’s unique ownership structure and size. Interactive Brokers’ growth has been driven by professional options traders, with an average of 3.5 million daily trades in July. The company also offers trading services for economic events and political predictions.

While Interactive Brokers anticipates continued growth in the options trading market, Peterffy downplayed the significance of entering the S&P 500. He emphasized the company’s long-standing presence in the industry. Interactive Brokers’ expansion into various trading services reflects its commitment to innovation and meeting customer demand.

Read more at Yahoo Finance: Interactive Brokers Lands a Spot in the S&P 500