Interactive Brokers adds Singapore entity, opens office in the Marina Bay Financial District

Maria Nikolova

Interactive Brokers Singapore will serve traders and wealth managers in the rapidly growing financial hub.

Electronic trading major Interactive Brokers Group, Inc. (NASDAQ:IBKR) announces 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.

The brokerage explains that more than 37% of its 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 offerings, which include the ability to invest globally in stocks, options, futures, currencies, bonds and funds from a single Integrated Investment Account.

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.

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.

Read this next

Digital Assets

Voyager subpoenas FTX’s inner circle over Alameda loan

Bankrupt crypto broker Voyager Digital, represented by law firm Kirkland & Ellis, is seeking court approval to subpoena Sam Bankman-Fried’s inner circle, as well as Alameda Research’s former executives.

Retail FX

AvaTrade seals sponsorship deal with F1’s Aston Martin team

Dublin-based forex broker AvaTrade today announced that it has concluded a sponsorship deal with Formula One’s Aston Martin Cognizant team that entails sponsorship rights and other marketing benefits.

Executive Moves

M4Markets onboards Invaxa CEO Marios Antoniou as COO

Seychelles-regulated brokerage firm M4Markets has appointed Marios Antoniou, who has a colorful career within the foreign exchange industry, in the capacity of its Chief Operations Officer.

Digital Assets

GK8 now allows clients to control their digital assets as they would their fiat

“As the institutional market is increasingly turning to self custody, our policy engine empowers them to automate transactions, approvals, and even crucial workflows, while providing the highest degree of security, consistency, governance and control.”

Digital Assets

Retail CBDCs in the UK: “Welcomed” by CryptoUK and R3, but “Dystopian” for ETC Group

“At this stage, we judge it likely that the digital pound will be needed in the future. It is too early to decide whether to introduce the digital pound, but we are convinced preparatory work is justified”, said the BoE and HM Treasury.

Institutional FX

Centroid taps Iress API to provide retail brokers with real-time market data

“It has always been a challenge to have an efficient, elegant solution for market data and order execution for retail brokers, but with Iress we have found absolutely the right partner to add to our client offering.”

Digital Assets

Ramp launches FCA-approved off-ramp product, onboards Brave, Trust Wallet, Ledger

“To obtain and maintain our FCA registration, we must meet and operate within their strict anti-money laundering and counter-terrorist financing standards. This is a huge achievement for us, as compliance is a cornerstone of our business and what we stand for.”

Institutional FX

State Street launches FIX API for Fund Connect ETF platform

“Expanding from proprietary APIs to the FIX industry standard will bring us closer to our goal of 100% digital interactions. This is another example of innovations we’ve brought to our operating model as we celebrate 30 years of servicing ETFs since the launch of SPY.”

Industry News

HollyWally opens office in Portugal to bring B2B2C wallet-as-a-service platform to Europe

“We looked at a number of centers for startups throughout Europe and were attracted straight away to Lisbon. There is great Government support and enthusiasm for startups, it’s well positioned between our Asian and US offices, it’s a cost-effective city in which to base a fintech and it’s a beautiful place.”

<