Interactive Brokers to Consolidate Its European Brokerage Operations into Ireland

Interactive Brokers, one of the biggest US-based brokerage firms, announced the consolidation of its European brokerage business, merging the operations of its Budapest Hungary - based central European subsidiary, Interactive Brokers Central Europe (IBCE), into the operations of its Interactive Brokers Ireland (IBIE).

The Group believes that the combination of its European operations will significantly improve its operational efficiency while retaining its key talent teams and regional client focus.

The combined business will be managed by IBIE, which is headquartered in Dublin and regulated by the Central Bank of Ireland. The Irish subsidiary will continue to provide its expertise to customers across the continent, particularly in Central and Eastern Europe.

Milan Galik, CEO of Interactive Brokers, said: "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."

Interactive Brokers has also attached great importance to its crypto business in recent years. Last week, the Group entered into a partnership with Zero Hash​, a crypto infrastructure platform, to reinforce its crypto trading and custody services by leveraging Zero Hash's full-stack API.