15 December 2017
visit www.aciworldwide.com

Interactive Brokers adds Australian stocks and Swedish stock options to platform

25 July 2007  |  1684 views  |  0 Source: Interactive Brokers

Interactive Brokers Group (IBKR), a global leader in electronic market-making and brokerage services, recently expanded Interactive Brokers LLC's global direct access platform to include Australian Stocks and Swedish Stock Options.

This brings the total number of market centers offered under the IB Universal Account to 72 across 17 different countries.

"For six years, Interactive Brokers has provided its professional clients with direct access to options, futures, stocks, forex and bonds worldwide from its single interface Universal Account," said Steve Sanders, IB's SVP of Marketing and Product Development. "Our Universal Account allows funding in one currency, simplified risk management across multiple currencies and products, as well as cheap and transparent financing globally."

The multi-product platform allows customers to use a single base currency to trade products in other currencies. Transactions are executed by either securing a loan against the base currency or actually converting the currency. The choice between a loan and conversion is entirely up to the customer, based on a personal appetite for currency risk. In either case, the customer's trading costs are decreased through market-determined financing or currency conversion rates provided directly by a number of bank partners. Real-time forex rates can be viewed on our home page.

"Most brokers would not want to offer our 'Universal Account' structure because it would mean the end of high markups on non-transparent currency conversions and financing rates, which is where some brokers make the bulk of their profits," said Sanders. IB offers access to six interbank currency dealers and will route a forex order to the dealer with the best bid or offer available at any given moment. In addition, complete straight-through processing, large volumes, and self-clearing allow IB to offer execution and clearing services at ultra-low commissions.

Up until a few years ago, traders and investors were forced to involve an additional middleman when investing in overseas or alternative assets. Today, customers have the choice of more direct investments. Rather than paying a middleman to buy a foreign energy company stock or buying an ADR and paying high management fees, customers can directly buy the stock from an overseas exchange through Interactive Brokers.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.thomsonreuters.infovisit www.aciworldwide.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
10200 views comments | 16 tweets | 25 linkedin
satelliteRipple completes XRP Lockup
9367 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
8952 views comments | 17 tweets | 36 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
7596 views comments | 20 tweets | 11 linkedin
Australian Government amends AML rules to cover digital currenciesAustralian Government amends AML rules to...
7225 views comments | 15 tweets | 24 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job