Interactive Brokers announced a combination of the client base and operations of Interactive Brokers Central Europe with Interactive Brokers Ireland.
In a strategic repositioning, automated trading provider Interactive Brokers announced the centralization of its operations in the European Union. The initiative will include merging the client base and operations of Interactive Brokers Central Europe, previously headquartered in Budapest, with Interactive Brokers Ireland.
The merging is part of IBKR's broader plan to increase measurable efficiency by maintaining technology integration. As a result of this development, IB Ireland, based in Dublin and regulated by the Central Bank of Ireland, will manage the business of the merger, and the Budapest office will play an integral role in offering its expertise to global clients, particularly in Central and Eastern Europe.
The decision underscores the surge in clients at both branches post-Brexit as it expands its presence in Europe.
Interactive Brokers CEO Milan Galik commented, "This decision is the Group's continued focus on operational efficiency through automation, offering the best investment services at prices usually only available to industry professionals. It allows us to maintain industry-leading profit margins. "
Additionally, the multi-asset broker provides investment services to more than two million client accounts, with assets valued at $377 billion in more than 220 countries and territories. Its strong financial position is evident from its equity of over $12 billion and a market capitalization of $30 billion.
Based on the latest data, the company recorded 1.931 million Average Daily Trading Revenue in August 2023, and despite a decline in trading activity, there was a 22% increase in client equity.