GREENWICH, Conn.-Wednesday 8 July 2020 [ AETOS Wire ]
(BUSINESS WIRE) -- Interactive Brokers Group (Nasdaq: IBKR), a global brokerage firm, today announced the addition of a Singapore entity Interactive Brokers Singapore Pte Ltd and
the opening of an office located in the Marina Bay Financial District.
With the addition of Singapore, the global brokerage firm now has nine
entities around the globe in the US, Australia, Canada, Hong Kong,
India, Japan, Luxembourg and the UK, serving over 876,000 clients
accounts in more than 220 countries and territories.
“As
our client base continues to rapidly increase in Singapore, it was
important to create a presence on the ground to support and service
active traders and the wealth management community,” said David
Friedland, Managing Director of the Asia Pacific region for Interactive
Brokers. “As a critical wealth management and financial hub in Asia, our
expansion in the region reflects that importance and keeps up with
account growth.”
Over
37% of Interactive Brokers accounts now come from Asia, up from 27% in
2017, and growth continues to be strong. Interactive Brokers’ office
opening also comes as other brokers have exited Singapore or decreased
their commitment to the country.
With
its Singapore expansion, Interactive Brokers can now offer Singapore
stocks to investors in the country and directly market its extensive
offerings, which include the ability to invest globally in stocks,
options, futures, currencies, bonds and funds from a single Integrated
Investment Account. Clients can also benefit from the company’s superior
pricing on other products, industry-low margin rates and strong spot
forex conversion rates.
“Many
of our institutional clients such as Variable Capital Companies, Family
Offices and Hedge Funds wanted to engage a broker licensed by the
Monetary Authority of Singapore and we have delivered,” Friedland said.
“We appreciate the support received from MAS during our application
phase, particularly for their responsiveness in the midst of the
coronavirus pandemic.”
Interactive
Brokers Singapore is led by an experienced team. Guillaume
Roux-Chabert, who has extensive institutional experience, heads sales,
and Kevin Tan, formerly executive director at a leading investment bank,
serves as Interactive Brokers’ Singaporean CEO. Singapore has a well-
educated, skilled, and multi-lingual labor force, which will enable the
company to supplement its existing client service teams around the
globe.
Interactive
Brokers Group has been active in Singapore for many years and is
well-known among the investment community. The company, which connects
to 135 markets in 33 countries, has worked closely with the Singapore
Exchange for over two decades, starting as a market maker and now as
broker. Interactive Brokers Group actively participates on the SGX
derivatives committee and has supported the Exchanges’ new initiatives
such as SGX’s recently launched Single Stock Futures.
Chew
Sutat, Senior Managing Director, Global Sales & Origination at SGX
said, “We have worked closely with Interactive Brokers for many years
promoting the Singapore markets to international customers. IBKR has
been a pioneer in developing global electronic trading and we are
delighted to have them on the ground to partner for growth together.”
More information on Interactive Brokers Singapore Pte Ltd is available here.
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/20200707005912/en/
Contacts
Interactive Brokers Group, Inc.
Investors: Nancy Stuebe, 203-618-4070
Media: Kalen Holliday, 203-618-4069 or media@ibkr.com
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