Interactive Brokers Announces the Merger of IBCE's Client Base and Operations into IBIE

On Thursday, Interactive Brokers Group, a leading global broker, announced to consolidate its European brokerage operations, with Budapest Hungary-based Interactive Brokers Central Europe (IBCE) merging its client base and business into the operations of Interactive Brokers Ireland (IBIE).

The Group expects the consolidation of its European operations to deliver significant efficiencies while retaining its key talent pool and regional client focus. IB Ireland, headquartered in Dublin and regulated by the Central Bank of Ireland, will be responsible for the management of the combined business, with IBCE continuing to provide a professional service to clients across the continent, and in particular in Central and Eastern Europe. Both businesses have already achieved and supported significant client growth as the Interactive Brokers Group expands its presence in Europe since conducting its operations post-Brexit.

"This decision is consistent with the Group's continuous focus on operational efficiency through automation, ensuring our ability to deliver best-in-class investment services at price points typically available only to industry professionals, and allowing us to maintain industry-leading profit margins," said Interactive Brokers CEO Milan Galik.

Interactive Brokers has global operations across Europe, Asia Pacific, and the Americas, holding more than $12 billion in equity capital, with $30 billion in market capitalization.

(Source: Financial Post)