Nasdaq-listed Interactive Brokers, an automated global electronic broker, has officially opened its new office at North Dock One on North Wall Quay in Dublin.
Interactive Brokers established a base in Dublin in 2020 to serve the needs of European clients.
The company employs 100 people in Dublin and c.2,600 globally.
Interactive Brokers Group provides custody and service accounts for hedge and mutual funds, exchange-traded funds, registered investment advisors, proprietary trading groups, introducing brokers and individual investors.
It specialises in routing orders while striving to achieve best executions and processing trades in stocks, options, futures, forex), bonds, mutual funds, metals and cryptocurrencies on more than
150 electronic exchanges and market centres around the world.
In Association with
Based in Greenwich, Connecticut, and in Chicago, IBG also has offices in Canada, the United Kingdom, Luxembourg, Switzerland, Hungary, India, Hong Kong, Shanghai, Japan, Singapore and Australia.
Since launching the electronic brokerage business in 1993, IBG has grown to c.1.7 million institutional and individual brokerage customers.
Kevin Keller, chief operating officer at Interactive Brokers Ireland, said the company initially chose Ireland due to the benefits of Ireland’s EU membership, strong regulatory reputation, and ease of access to the European market.
“Throughout that process and into our first two years of business we have
been incredibly impressed with the local financial services talent and pro-business environment,” he added.
“We currently employ over 110 staff in Dublin, far more than originally anticipated, and remain confident that Ireland has the necessary talent to help drive our business forward.
“Interactive Brokers is excited to open our new office to support our long-term presence in Ireland. We look forward to further embedding ourselves in the Irish financial services community while growing our business in Ireland and across Western Europe.’’
Tánaiste Leo Varadkar offered the company his “sincere congratulations”.
Company founder Thomas Peterffy, who still sits on the board, emigrated from Hungary to the United States in 1965. In 1977, after purchasing a seat on the American Stock Exchange and trading as an individual marker maker in equity options, he applied a computerised mathematical model to continuously value equity option prices.
By 1986, Peterffy had developed an automated market making system for stocks, options and futures. Online brokerage functions were added and in 1993 Interactive Brokers was formed.
In the nine months to September 2022, Interactive Brokers Group had revenue of €2.1bn and boked a net profit of $1.2bn.
Photo (l-r): Leo Varadkar, Rob Prior of IBG, IDA executive Maeve McConnon, and Kevin Keller
