First Provider of Algo Trading in Taiwan Is Interactive Brokers

In order to bolster Sinopac Securities’ offering, Interactive Brokers enters the Taiwanese market.
More than 200 jurisdictions are presently served by IBKR.

Sinopac Securities, a Taiwan-based trading firm, has chosen Interactive Brokers Group (Nasdaq: IBKR), a well-known American electronic trading platform, as its principal international broker. Retail and institutional clients can use Sinopac’s services to trade ETFs, equities, and fixed-income products on the US market. The IBKR instrument line allows it to extend to an additional 90 stock markets throughout the world.

Taiwan market entry by Interactive Brokers

The newest relationship, according to the press release released on Thursday, expands Interactive Brokers’ international clientele in Taiwan and fortifies its position in the APAC area. IBKR currently provides services to clients in more than 200 different nations.

Taiwanese investors can reach their financial objectives with the aid of the sophisticated trading platforms, cutting-edge technology, and tools offered by Interactive Brokers. More than 100 order types are supported by Interactive Brokers, including algorithmic trading, which is not available through other brokers in Taiwan.

“We are excited to collaborate with Sinopac and offer Interactive Brokers’ knowledge and experience in international trading to Taiwan. We appreciate the benefit of dealing with a reputable broker with local knowledge, and we look forward to meeting the demands of the investors in this significant market “Chief Executive Officer of Interactive Brokers Milan Galik made a statement.

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Also, thanks to Sinopac’s cooperation, Interactive Brokers can provide access to Taiwanese stocks listed on the Taiwan Stock Exchange to its current clients (TAIEX).

Another Action by Interactive Brokers in Asia

Only two days after another offering expansion in the APAC area, Taiwanese Sinopac Securities announced that it would become its primary international broker. According to a report from Finance Magnates on Tuesday, the publicly-traded trading firm increased the range of cryptocurrencies it offered and introduced cryptocurrency trading services in Hong Kong (HK).

Unfortunately, due to local constraints, the current offering is restricted to just two cryptocurrencies: Bitcoin (BTC) and Ethereum (ETH). The broker will additionally permit institutional clients to trade. Investors who want to trade digital assets in Hong Kong must have investable assets worth more than HKD 8 million, while institutions must have assets worth more than HKD 40 million.

With a cooperation with Paxos, a company currently having regulatory issues in the US, Interactive Brokers initially introduced cryptocurrency trading to its American customers in September 2021.

Interactive Brokers’ Proposal for New Shares

The Stock Yield Enhancement Program (SYEP) Derivatives, a new trading product for Australian investors and traders, was introduced last week by the electronic trading platform. By lending some of their assets, they can increase their passive income.

The SYEP Derivatives product from Interactive Brokers Australia enables lending of shares in exchange for cash collateral deposits that simulate the possible profits from lending out the stakes. Clients with portfolios over $50,000 or with an equivalent amount in cash are eligible for the programme.

The SYEP Derivatives programme, according to Interactive Broker’s EVP of Marketing and Product Development Steve Sanders, “meets the bill for how we can provide greater value to our clients.

With a 14% increase in its Daily Average Revenue Trades in January 2022, which reached 1.988 million, the American online broker got off to a strong start in 2023. Moreover, the business reported fourth-quarter 2022 profits of $976 million, setting a new record.

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