Interactive Brokers has announced the consolidation of its European brokerage operations.
Interactive Brokers Central Europe (IBCE), based in Budapest, Hungary, will combine its client base and operations with Interactive Brokers Ireland (IBIE), located in Dublin.
The company expects the combination of its European operations to create efficiencies while maintaining its core staff and regional client focus, according to Business Wire.
IB Ireland, which is regulated by the Central Bank of Ireland, will lead the combined business, while IB Central Europe will continue to provide its expertise to clients across the continent, particularly in Central and Eastern Europe.
"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 Milan Galik, CEO of Interactive Brokers.
Founded more than 45 years ago, Interactive Brokers Group provides a broad range of investment services to more than 2 million clients in Europe, Asia Pacific, and the Americas, and is one of the largest securities firms in the world, with more than $12 billion in equity capital and $30 billion in market capital.
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