Interactive Brokers Group Opens Singapore Office to Serve Traders, Wealth Managers, Family Offices and Hedge Funds
10th July 2020 | Hong Kong
Interactive Brokers Group, one of the world’s leading brokerage firm, has opened a new entity in Singapore to serve active traders, wealth managers, family offices and hedge funds.
” Interactive Brokers Group opens Singapore Office for Traders, Wealth Managers, Family Offices and Hedge Funds “
With the Singapore office, Interactive Brokers now allow investors to invest from a single Integrated Investment Account in Singapore to invest in Singapore stocks, global stocks, options, futures, currencies, bonds and funds. Clients also benefits from pricing on products, industry-low margin rates and strong spot forex conversion rates.
Globally, Interactive Brokers Group has more than 876,000 clients accounts in more than 220 countries and territories. Over 37% of Interactive Brokers accounts come from Asia, compared to only 27% in 2017.
Interactive Brokers’ office opening in Singapore comes as other brokers have exited Singapore or decreased their commitment to the country. (In 2019, one of the leading global brokerage Charles Schwab had exited Singapore). With the opening of the Singapore entity, Interactive Brokers Group has a total of 9 global entities including United States, Canada, United Kingdom, Luxembourg and in Asia, Hong Kong, India, Japan, Australia and now Singapore.
Interactive Brokers Group Since 1978
Interactive Brokers Group was founded in 1978 by current Chairman Thomas Peterffy in United States. The brokerage has grown to become one of the premier securities firms in United States and the world executing 1.45 million of trades daily.
In 2019, the company reported revenue of $1.9 billion and pre-tax profit of $1.2 billion. Interactive Brokers Group is listed on NASDAQ and has a stock market capitalization of $20.4 billion (10th July 2020).
Interactive Brokers Singapore
Interactive Brokers Singapore is led by an experienced team with Kevin Tan as Chief Executive Officer of Singapore, a former Executive Director of a leading investment bank and Guillaume Roux-Chabert as Head of Sales who has extensive institutional experience and was the former Head of E-Commerce APAC at Deutsche Bank.
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 (SGX) for over 20 years, starting as a market maker and now as broker.
Interactive Brokers Group also actively participates on the SGX derivatives committee and has supported the Exchanges’ new initiatives such as SGX’s recently launched Single Stock Futures.
David Friedland, Managing Director, Asia Pacific Interactive Brokers:
“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. As a critical wealth management and financial hub in Asia, our expansion in the region reflects that importance and keeps up with account growth.
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. We appreciate the support received from MAS during our application phase, particularly for their responsiveness in the midst of the coronavirus pandemic.”
Chew Sutat, Senior Managing Director, Global Sales & Origination at Singapore Exchange (SGX):
“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.”
About Interactive Brokers Group
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.
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