IBKR is required to charge the Panel on Takeovers and Mergers ("PTM") Levy on shares of eligible companies. The PTM Levy is payable on trades in securities of companies which are incorporated in the United Kingdom, the Channel Islands or the Isle of Man and whose shares are admitted to trading on a UK regulated market or multilateral trading facility.
The PTM derives a large part of its income from a charge on certain trades in the securities of companies whose shareholders benefit from the protections afforded by the Code (the “PTM Levy”).
Find out more about the PTM Levy on the Panel on Takeovers and Mergers website.