(MENAFN- AETOSWire) (BUSINESS WIRE ) -- 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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