Interactive Brokers First to Offer Algo Trading in Taiwan

Interactive
Brokers Group (Nasdaq: IBKR), a popular American electronic <a href=”https://www.financemagnates.com/terms/t/trading-platform/” class=”terms__main-term” id=”f85800b2-ccf5-4f50-9e8e-780d32afc6f6″ target=”_blank”>trading platform</a>,
has become the primary international broker for Sinopac Securities, a Taiwan-based
trading company. Sinopac offers its services to retail and institutional
clients, allowing them to trade ETFs, stocks and fixed-income products from the
US market. Thanks to the IBKR instrument line, it expands to 90 additional worldwide
stock markets. Interactive Brokers Enters the Taiwanese MarketAccording
to the press release published on Thursday, the newest partnership broadens Interactive
Brokers’ global client base in Taiwan and strengthens its presence in the APAC
region. Currently, IBKR serves clients in more than 200 countries worldwide.Interactive
Brokers provides Taiwanese investors with various powerful trading
platforms, advanced technology, and tools to help them achieve their
financial goals. Additionally, Interactive Brokers accommodates over 100 order
types, including algorithmic trading, which is unavailable through other
brokers in Taiwan.”We
are pleased to work with Sinopac and bring Interactive Brokers’ global trading
capabilities and expertise to Taiwan. We recognize the advantage of working
with a leading broker with local experience and look forward to serving the
needs of this important market and its investors,” Milan Galik, the Chief
Executive Officer of Interactive Brokers, commented.Furthermore,
thanks to Sinopac’s collaboration, Interactive Brokers can offer its existing clients
access to Taiwanese stocks listed on the Taiwan Stock Exchange (TAIEX).Watch the recent FMLS22 panel on the advances in trading technology.Another Move in APAC from
Interactive BrokersThe
announcement of becoming the primary international broker for Taiwanese Sinopac
Securities came just two days after another offering expansion in the APAC
region. <a href=”https://www.financemagnates.com/forex/brokers/interactive-brokers-launches-crypto-trading-in-hong-kong/” target=”_blank” rel=”follow”>As Finance Magnates
reported on Tuesday</a>, the publicly-listed trading company expanded its
cryptocurrency offerings and launched crypto trading services in Hong Kong
(HK).However, the current offering is limited to only two cryptos: Bitcoin
(BTC) and Ethereum (ETH), it coincides with regulations in this part of the
world. In addition, the broker will allow institutional clients to trade.
Investors wanting to trade digital assets in HK must have over HKD 8 million
in investable assets, while institutions should have more than HKD 40 million in
assets.Interactive Brokers first launched cryptocurrency trading for its US
customers <a href=”https://www.financemagnates.com/cryptocurrency/news/interactive-brokers-launches-cryptocurrency-trading-via-paxos/” target=”_blank” rel=”follow”>in September 2021</a> through a partnership with Paxos, a company now <a href=”https://www.financemagnates.com/cryptocurrency/paxos-stops-busd-mint-after-sec-action-binances-cz-calms-funds-are-safe/” target=”_blank” rel=”follow”>facing
regulatory troubles in the United States</a>.Interactive Brokers New
Shares InitiativeThe electronic
trading platform launched yet another trading product last week dubbed <a href=”https://www.financemagnates.com/forex/interactive-brokers-to-lend-your-shares-for-extra-income/” target=”_blank” rel=”follow”>the
Stock Yield Enhancement Program (SYEP) Derivatives</a> for Australian investors and
traders. It allows them to generate additional passive income by lending parts
of their portfolio.Interactive
Brokers Australia’s SYEP Derivatives program allows loaning shares in <a href=”https://www.financemagnates.com/terms/e/exchange/” class=”terms__secondary-term” id=”b5da6e64-2afe-421d-9b81-16404b7d59d6″ target=”_blank”>exchange</a>
for cash collateral deposits that mirror the potential earnings from lending
out the stakes. The program is open to clients whose portfolio exceeds $50,000
or who hold a similar amount in cash. “We are always looking for ways to
deliver more value to our clients, and the SYEP Derivatives program fits that
bill,” Steve Sanders, the EVP of Marketing and Product Development at
Interactive Broker, said.The
American online broker started 2023 on a solid foot, <a href=”https://www.financemagnates.com/forex/interactive-brokers-darts-jump-14-in-january-as-client-accounts-grows/” target=”_blank” rel=”follow”>showing a 14% increase in
its Daily Average Revenue Trades in January 2022</a>, which reached 1.988 million. Moreover,
the company <a href=”https://www.financemagnates.com/forex/interactive-brokers-ends-q4-2022-with-record-profits/” target=”_blank” rel=”follow”>presented record-breaking profits</a> for the fourth quarter of 2022, with
revenues at $976 million.