Global electronic brokerage firm Interactive Brokers has collaborated with HSBC to enable HSBC's clients to access the global trading markets through a unified platform.
Initially Targeting the UAE
According to MarketsMedia, HSBC's customers in the UAE will be the first to benefit from this partnership. They will have access to equities , ETFs, and bonds in up to 25 markets and 77 exchanges worldwide. This is facilitated through WorldTrader, a digital investment platform powered by Interactive Brokers. The platform is accessible via mobile app or online, and plans to expand to more markets soon.
Speaking about this new offering, Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers, said: "We are pleased that HSBC has chosen Interactive Brokers, a premier provider of white branded solutions for introducing brokers and banks."
"Our suite of services includes powerful technology and trading tools, competitive pricing, and access to global markets. Institutions worldwide continue to select our platform to streamline their businesses and meet the needs of their clients efficiently."
Through this partnership, Interactive Brokers and HSBC will reportedly offer a unified trading platform to customers in more than 200 countries and territories. The two entities aim to enhance brokerage services through the new offering.
The platform seeks to simplify account opening and trading to ensure high user satisfaction. Customers reportedly receive free, real-time market data, news, and expert analysis to make informed investment decisions.
Interactive Brokers Enhances Offerings
Meanwhile, Interactive Brokers recently extended trading hours for Korean derivatives during the US and European trading hours. The brokerage firm mentioned that this initiative aims to cater to a growing demand for global investment opportunities in South Korea’s equities and derivatives.
This extension allows traders to trade KOSPI 200 Options, Mini-KOSPI 200 Futures, KOSPI 200 Futures, and USD/KRW currency futures during US and European market hours.
In June, Interactive Brokers reported substantial growth in its performance metrics, showcasing a double-digit increase in daily average revenue trades (DARTs) and client equity. DARTs for the period were 2.469 million, a 26% increase from the previous year and a 5% rise from the prior month.
Client equity jumped 36% YoY to $497.2 billion, a 2% boost from the previous month. Additionally, client margin loan balances increased to $55.1 billion, a 32% increase from the previous year and a 4% rise from the prior month.
