Taiwan’s First Algo Trading Provider is Interactive Brokers

Sinopac Securities, a trading firm based in Taiwan, 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.

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 pleased to work with Sinopac and bring Interactive Brokers’ global trading capabilities and expertise to Taiwan. We recognize the advantage of working with a leading broker with local experience and look forward to serving the needs of this important market and its investors,” Milan Galik, the Chief Executive Officer of Interactive Brokers, commented.

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).

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.

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.

“We are always looking for ways to deliver more value to our clients, and the SYEP Derivatives program fits that bill,” Steve Sanders, the EVP of Marketing and Product Development at Interactive Broker, said.

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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