Interactive Brokers First to Offer Algo Trading in Taiwan

Thursday, 16/02/2023 | 09:04 GMT by Damian Chmiel
  • Interactive Brokers enters the Taiwanese market supporting the Sinopac Securities offering.
  • IBKR is now serving clients in more than 200 jurisdictions.
Taiwan 880x400
Finance Magnates

Interactive Brokers Group (Nasdaq: IBKR), a popular American electronic trading platform , 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 Market

According 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 Brokers

The announcement of becoming the primary international broker for Taiwanese Sinopac Securities came just two days after another offering expansion in the APAC region. As Finance Magnates reported on Tuesday, 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 in September 2021 through a partnership with Paxos, a company now facing regulatory troubles in the United States.

Interactive Brokers New Shares Initiative

The electronic trading platform launched yet another trading product last week dubbed the Stock Yield Enhancement Program (SYEP) Derivatives 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 exchange 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, showing a 14% increase in its Daily Average Revenue Trades in January 2022, which reached 1.988 million. Moreover, the company presented record-breaking profits for the fourth quarter of 2022, with revenues at $976 million.

Interactive Brokers Group (Nasdaq: IBKR), a popular American electronic trading platform , 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 Market

According 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 Brokers

The announcement of becoming the primary international broker for Taiwanese Sinopac Securities came just two days after another offering expansion in the APAC region. As Finance Magnates reported on Tuesday, 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 in September 2021 through a partnership with Paxos, a company now facing regulatory troubles in the United States.

Interactive Brokers New Shares Initiative

The electronic trading platform launched yet another trading product last week dubbed the Stock Yield Enhancement Program (SYEP) Derivatives 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 exchange 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, showing a 14% increase in its Daily Average Revenue Trades in January 2022, which reached 1.988 million. Moreover, the company presented record-breaking profits for the fourth quarter of 2022, with revenues at $976 million.

About the Author: Damian Chmiel
Damian Chmiel
  • 1520 Articles
  • 32 Followers
About the Author: Damian Chmiel
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
  • 1520 Articles
  • 32 Followers

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