Interactive Brokers announces consolidation of European brokerage operations

Interactive Brokers announced the consolidation of its European brokerage operations, with Interactive Brokers Central Europe, or IBCE, based in Budapest Hungary, merging its client base and operations into the operations of Interactive Brokers Ireland, or IBIE. The Group expects the merger of its European operations to produce measurable improvements in efficiency, while retaining its key talent pool and regional client focus. IB Ireland, based in Dublin and regulated by the Central Bank of Ireland, will manage the merged business, with IBCE continuing to provide its expertise to clients across the continent, and particularly in Central and Eastern Europe. Since commencing business following Brexit, these two operations have delivered and supported significant client growth as Interactive Brokers Group expands its presence across Europe.