Interactive Brokers Introduces “High Touch” PB Service for Hedge Funds
Interactive Brokers, a global electronic brokerage firm, has expanded its offering for hedge funds by launching a high touch prime brokerage and global outsourced trading service to complement its existing automated trading platform.
The primate brokerage service seeks to assist select U.S. hedge funds by assigning them a dedicated relationship manager who will serve as a single point of contact for the fund’s trading, clearing, custody, and reporting requirements.
“High touch prime brokerage enables Interactive Brokers to compete with large prime brokers and removes a potential barrier for hedge funds who want to move to a low-cost platform but are accustomed to personalized service,” said Milan Galik, CEO of Interactive Brokers.
The firm has also introduced access to subject matter experts in a variety of operational areas, including risk, compliance, securities lending and tax, with the goal of assisting hedge funds in managing their companies more efficiently.
High-touch prime brokerage clients now have access to the new IBKR outsourced trading desks, which are available in Europe and Asia. The service enables portfolio managers to carry out their trading strategy with the support of IBKR traders. It encompasses a wide range of securities, including domestic and international equities, options, and bonds.