Interactive Brokers to Join Tel Aviv Stock Exchange

September 11, 2017

By Modupe Gbadeyanka

Largest US electronic brokerage firm by number of daily average revenue trades, Interactive Brokers Group, has expressed its intention to join the Tel Aviv Stock Exchange (TASE) through its Interactive Brokers UK subsidiary as a remote member.

The firm is an automated global electronic broker that serves more than 449,000 clients worldwide and operates on more than 120 exchanges.

Chief Operating Officer at Interactive Brokers, Mr Jon Chait, commented that, “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.”

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

Leave a Reply

wale tinubu oando
Previous Story

Oando Shareholders Stay Solidly Behind Tinubu, Retain Him as GCE

Next Story

GTreasury Opens London Office

Latest from Economy