Global electronic brokerage firm Interactive Brokers has added to its offering for hedge funds with the launch of a high touch prime brokerage and global outsourced trading services to complement the firm’s existing automated trading platform.
The PB service aims to assist select US hedge funds by assigning them a dedicated Relationship Manager who will act as a single point of contact to address the fund’s trading, clearing, custody and reporting needs, according to a press release.
In a press statement, Milan Galik, CEO of Interactive Brokers, said: “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 personalised service.”
Interactive Brokers has also introduced access to subject matter experts in various operational areas such as risk, compliance, securities lending and tax, aimed at helping hedge funds mange their businesses more efficiently.
Meanwhile, the new IBKR Outsourced Trading desks, which are now available in Europe and Asia, allow portfolio managers to execute their trading strategies with the assistance of IBKR traders. The service covers a range of instruments, including domestic and international stocks, options and bonds.
