Electronic trading firm Interactive Brokers Group, Inc. IBKR has announced its plans to put an end to its options market making activities globally.
The operations, which are conducted through the Timber Hill companies, are expected to be phased out over the coming months. The broker will continue carrying out certain trading activities in stocks and related instruments.
Along with this shift toward electronic brokerage, Interactive Brokers said it planned to rebalance the composition of currencies in the GLOBAL, a basket of 15 major currencies in which it holds its equity, by increasing the relative weight of the US dollar vs. The new composition is set to become effective at the close of business on March 31, , whereas the conversion to the new targeted currency holdings will happen soon after that.
In December , the Australian Securities and Investments Commission ASIC announced that Interactive Brokers will refund AUD 1. This reflected findings that during the period July to August , IB did not hold an Australian financial services licence AFS licence which permitted the provision of margin loans. The move affected approximately 3, retail customers which took out a margin loan with IB during the period in question.
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In June , ASIC said it had requested Interactive Brokers to halt providing all over-the-counter FX services in Australia. The latest move, however, is on a global scale and does not reflect a regulatory order.
The rate of continuing losses at the market making segment markedly slowed after the company started winding down its options market making activities. The broker adds shortcuts to a number of instruments and functionalities with the latest set of enhancements. About Meet the team Advertise Love FinanceFeeds? Maria Nikolova Industry News , Retail FX , Week in Review March 9, , 6: Maria Nikolova Industry News , Retail FX , Week in Review.
Industry News , Retail FX Did Interactive Brokers really exit the retail market? Company still going big for retail clients in China! Industry News , Technology Interactive Brokers simplifies access to various trading tools in TWS platform The broker adds shortcuts to a number of instruments and functionalities with the latest set of enhancements.
Industry News , Technology Interactive Brokers introduces cloud presets in TWS for mobile orders Presets created in desktop are now applied to mobile orders.
Industry News , Technology Interactive Brokers enables traders to get Futures Open Interest data via API The new functionality may be used with TWS version or greater. Industry News , Technology IB TWS mobile app enhances chart navigation Traders can now zoom and pan charts with their fingers.
Industry News , Technology Interactive Brokers enhances Watchlists on IB TWS app for Android devices New columns and easier work with financial instruments improve work with Watchlists.
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