Interactive Brokers Plans to Join the Tel Aviv Stock Exchange as a Remote Member
Interactive Brokers Group, Inc. (NASDAQ GS:IBKR), an automated global electronic broker that serves more than 449,000 clients worldwide and operates on more than 120 exchanges, announced today that it plans to join the Tel Aviv Stock Exchange (TASE) through its Interactive Brokers UK subsidiary as a remote member.
Jon Chait, Chief Operating Officer at Interactive Brokers, said, “We are delighted to join the Tel Aviv Stock Exchange. We believe IB’s international scope provides opportunities for investors to efficiently and cost effectively access smaller markets that larger established financial institutions don’t serve because they don’t see sufficient scale.”
Mr. Chait noted, “IB’s technology driven business model is not limited in this way. Our software is borderless, so investors can access international markets with the same efficiency regardless of where they are located.”
“Joining the Tel Aviv Stock Exchange extends IB’s vision of a seamless multinational, multi-currency, multi-asset class investment experience that lets both retail and professional investors enjoy IB’s low costs and sophisticated financial tools.”
Ittai Ben-Zeev, Chief Executive Officer of TASE, said, “We are pleased that Interactive Brokers is planning to join TASE as a remote member. The addition to TASE of one of the world’s largest international brokerage firms is an expression of confidence in the Israeli capital market and in Israeli investors. This is a direct result of our strategic plan and aspiration to increase the number of Israeli and international TASE members, to enhance competition for the benefit of the public investors and to make TASE trading more accessible for the public investors in Israel and abroad.”
About Interactive Brokers Group, Inc.
Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities and foreign exchange around the clock on over 120 markets in numerous countries and currencies from a single IB Universal Account℠ to customers worldwide. We service individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation has enabled us to equip our customers with a uniquely sophisticated platform to manage their investment portfolios at the lowest cost according to Barron’s Best Online Brokers review, March 20, 2017. We strive to provide our customers with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low prices, positioning them to achieve superior returns on investments.
About the Tel Aviv Stock Exchange (TASE)
The Tel Aviv Stock Exchange was founded in September 1953. The TASE group, which consists of the stock exchange, the TASE Clearing House and the Derivatives Clearing House, provides local and international investors with trading and clearing in securities, including stocks, corporate bonds, government bonds, index-tracking products and derivatives. The Tel Aviv Stock Exchange is home to over 450 listed companies, with a total market value of approximately USD 225 billion, 600 corporate bonds and 690 ETFs. For further information: www.tase.co.il.
For Interactive Brokers Group, Inc.
Nancy Stuebe, 203-618-4070
Kalen Holliday, 203-913-1369
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