Interactive Brokers Group Establishes Entity in Ireland

Rhea-AI Summary

Interactive Brokers Group (Nasdaq: IBKR) has received authorization from the Central Bank of Ireland for Interactive Brokers Ireland Limited, reflecting its continued expansion in Europe. The firm plans to significantly increase its staffing over the next year due to a 52% rise in client accounts. With recent offices launched in Singapore and Hungary, Interactive Brokers now operates 11 global entities, serving over one million client accounts across 220 countries. The company boasts over $8.9 billion in equity capital and is recognized for its advanced technology and low-cost brokerage services.

Positive

• Authorization received from the Central Bank of Ireland for its Irish subsidiary.
• 52% growth in client accounts year-over-year.
• Plans to expand staffing significantly to support growth.
• Presence in 11 global locations, enhancing international reach.
• Over $8.9 billion in equity capital and $25 billion market capitalization.

Negative

• None.

Interactive Brokers Group (Nasdaq: IBKR), a leading global brokerage firm, today announced the authorization by the Central Bank of Ireland for Interactive Brokers Ireland Limited.

The company expects to expand its staffing substantially over the next year to accommodate the ongoing strong growth of Interactive Brokers’ European business.

“We are expanding to Ireland partly due to Brexit and partly due to our plan of establishing subsidiaries around the world to support our rapid global growth,” said Interactive Brokers chairman Thomas Peterffy. “Client accounts have grown by more than 52% in a year.”

Earlier this year, Interactive Brokers opened an office in Singapore, and just recently in Hungary. The firm now has 11 entities around the globe in the US, Ireland, Australia, Canada, Hong Kong, Hungary, India, Japan, Luxembourg, Singapore, and the UK. With a staff of 2,000 worldwide, Interactive Brokers serves over one million client accounts in more than 220 countries and territories.

The IDA Ireland, a government agency that promotes Ireland for the opportunities it presents to international companies, has provided invaluable assistance to Interactive Brokers in establishing its Irish office.

Founded over 43 years ago, the company has grown to become one of the preeminent securities firms in the world with over $8.9 billion in equity capital, $25 billion market capital, and $284 billion in client equity.

Interactive Brokers differentiates itself from more traditional brokerage strategies by pursuing an uncompromising focus on technology as a way to bring professional quality investment tools to both demanding professional traders and the average retail investor. Clients residing anywhere in the world can invest in multiple assets classes (in stocks, options, futures, currencies, bonds, and funds) on 135 markets in 33 countries from a single Integrated Investment Account. The company is also well-known for its advanced technology, superior pricing, industry-low margin rates, and tight forex conversion pricing.

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 135 markets in numerous countries and currencies, from a single IBKR Integrated Investment Account 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. Barron’s ranked Interactive Brokers #1 with 5 out of 5 stars in its February 24, 2020, Best Online Broker Review.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201223005032/en/

FAQ

What new authorization did Interactive Brokers receive in Ireland?

Interactive Brokers received authorization from the Central Bank of Ireland for Interactive Brokers Ireland Limited.

What is the growth rate of client accounts for Interactive Brokers?

The company reported a 52% growth in client accounts over the past year.

How many global entities does Interactive Brokers operate?

Interactive Brokers operates 11 global entities, serving clients in over 220 countries.

What are the financial metrics of Interactive Brokers?

The company has over $8.9 billion in equity capital and a market capitalization of $25 billion.

Why is Interactive Brokers expanding to Ireland?

The expansion is partly due to Brexit and the company's strategy of establishing subsidiaries globally to support rapid growth.