Greenwich Connecticut, United States
Interactive Brokers (IBKR), the online broker of global futures, options and foreign exchange, is pleased to offer direct access trading to Australian stocks and options via its award-winning, multi-product desktop trading platform, Trader Workstation (TWS).
The new product offering enables clients to trade ASX-listed options on a flat commission structure of $1.88 per contract plus exchange fees, with no minimum to trade. It also provides a vast array of order types, the ability to make direct quote requests, and direct access trading for option spreads.
Australian stocks are now being offered at a competitive commission rate of .08% of trade value, with a $6 trade minimum. Interactive Brokers also gives traders the ability to short these Australian stocks.
Interactive Brokers ranks among the top 20 largest U.S. securities firms and has been honored by Barron's magazine for its high-performance software and low-cost trade structure. Approximately 20 percent of the world's option volume passes through Interactive Brokers every trading day.
In a statement, Interactive Brokers managing director Steve Kelsey said the decision to introduce ASX-listed stocks and options to its clients was driven by the company's ongoing desire to offer access to liquid derivatives markets globally.
"The Australian options market is a dynamic, liquid environment in which clients are keen to navigate, so it was naturally in our interest to make this frontier available through our trading platform - but on far more competitive and attractive price terms than the market has offered up to now."
Last month the SEC granted certain classes of the ASX Exchange Traded Options Market "no action relief," allowing US investors to access the market directly through Interactive Brokers.
About Interactive Brokers
Interactive Brokers Group, Inc., together with its subsidiaries, is an automated global electronic market maker and broker specializing in routing orders and executing and processing trades in securities, futures and foreign exchange instruments as a member of more than 70 electronic exchanges and trading venues around the world. The company provides professional traders and investors with direct access to stocks, options, futures, forex and bonds from a single IB Universal Account(SM). Employing proprietary software on electronic exchanges worldwide, Interactive Brokers is continuously integrating its software with a growing number of exchanges and trading venues into one automatically functioning, computerized platform that requires minimal human intervention.
Source: Business Wire (Business Wire India)