Interactive Brokers Group Consolidates EU Operations into Ireland
September 27 2023 - 11:00PM
Business Wire
European Base Responds to Rapid Regional
Growth
Interactive Brokers Group (Nasdaq: IBKR), a leading global
brokerage firm, today announced the consolidation of its European
brokerage operations, with Interactive Brokers Central Europe
(“IBCE”), based in Budapest Hungary, merging its client base and
operations into the operations of Interactive Brokers Ireland
(“IBIE”).
The Group expects the merger of its European operations to
produce measurable improvements in efficiency, while retaining its
key talent pool and regional client focus. IB Ireland, based in
Dublin and regulated by the Central Bank of Ireland, will manage
the merged business, with IBCE continuing to provide its expertise
to clients across the continent, and particularly in Central and
Eastern Europe. Since commencing business following Brexit, these
two operations have delivered and supported significant client
growth as Interactive Brokers Group expands its presence across
Europe.
"This decision is consistent with the Group’s continuous focus
on operational efficiency through automation, ensuring our ability
to deliver best-in-class investment services at price points
typically available only to industry professionals, and allowing us
to maintain industry-leading profit margins," said Interactive
Brokers CEO Milan Galik.
Interactive Brokers’ global operations across Europe, Asia
Pacific and the Americas provide extensive investment services to
more than two million client accounts, holding $377 billion (at
August 31, 2023) in assets in more than 220 countries and
territories.
Founded over 45 years ago, Interactive Brokers Group has grown
to become one of the preeminent securities firms in the world, with
over $12 billion in equity capital and $30 billion of market
capital.
About Interactive Brokers Group, Inc.:
Interactive Brokers Group affiliates provide automated trade
execution and custody of securities, commodities, and foreign
exchange around the clock on over 150 markets in numerous countries
and currencies, from a single unified platform to clients
worldwide. We service individual investors, hedge funds,
proprietary trading groups, financial advisors and introducing
brokers. Our four decades of focus on technology and automation has
enabled us to equip our clients with a uniquely sophisticated
platform to manage their investment portfolios. We strive to
provide our clients with advantageous execution prices and trading,
risk and portfolio management tools, research facilities and
investment products, all at low or no cost, positioning them to
achieve superior returns on investments. For the sixth consecutive
year, Barron’s ranked Interactive Brokers #1 with 5 out of 5 stars
in its June 9, 2023, Best Online Brokers Review.
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version on businesswire.com: https://www.businesswire.com/news/home/20230927952899/en/
Interactive Brokers Group, Inc. Media: Katherine Ewert,
media@ibkr.com
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