Steve Sanders is EVP of Marketing and Product Development at Interactive Brokers.
What were the key theme(s) for Interactive Brokers in 2022?
With clients in over 200 countries and territories, we continually focus on improving our global offering and did so throughout 2022. We provide access to 150 markets, 33 countries and up to 26 currencies and allow clients to trade stocks, options, futures, currencies, bonds and funds and access cryptocurrency from a single unified platform. Throughout 2022, we launched simplified trading platforms and tools to address the needs of our global client base and witnessed how offering a broad range of products can benefit investors trading through different market cycles.
We introduced IBKR GlobalTrader, a straightforward mobile app to trade stocks, options, ETFs, mutual funds, and access crypto, and IBKR EventTrader, our web-based platform for trading Event Contracts. With the rise in interest rates, we also experienced increased investor demand for bonds which translated to the growth of our bond platform during the third quarter of 2022. With one of the largest electronic bond marketplaces in the brokerage industry offering a fully transparent universe of over 1 million bonds globally and more active bond market volumes, our bond platform reached 3,000 transactions a day, up from about 1,000 trades a day previously.
What was the highlight of 2022?
Expanding on the trading platforms and tools we develop for global investors, we introduced IBKR GlobalTrader, a simple mobile trading application for investors to trade stocks and options worldwide and access cryptocurrency through Paxos Trust Company. With a streamlined design, the app is accessible for novice investors and powerful enough for experienced stock traders. IBKR GlobalTrader offers access to over 90 stock exchanges and lets investors make deposits in up to 26 different currencies.
The new IBKR GlobalTrader complements our previously launched IBKR GlobalAnalyst, a tool for investors worldwide seeking international diversification but unsure of what to invest. IBKR GlobalAnalyst lets investors search for stocks priced in their local currency by region, country, industry, market capitalization and currency to identify undervalued stocks worldwide. Recognizing that it can be challenging for investors to evaluate the relative merits of stocks traded in different currencies, IBKR GlobalAnalyst allows users to compare any number of stocks by various metrics in one of 31 currencies of the user’s choice. IBKR GlobalAnalyst’s simplicity makes it useful for any investor scanning for international stocks. Investors can then use the IBKR GlobalTrader app to take advantage of any investment opportunities they identify quickly.
Who were the most important/influential people at your firm in 2022?
Thomas Peterffy is the Founder and Chairman of Interactive Brokers Group, and Milan Galik is the Chief Executive Officer of Interactive Brokers. Mr. Peterffy has been at the forefront of applying computer technology to automate trading and brokerage functions since he emigrated from Hungary to the United States in 1965 and is a pioneer in the electronic trading industry.
Interactive Brokers’ four decades of focus on technology and automation have enabled the company to equip clients with a uniquely sophisticated platform offering access to advanced technology, low and transparent pricing and a broad range of global products. Mr. Peterffy’s vision, implemented day-to-day by Mr. Galik, has enabled Interactive Brokers to remain in the top ranks of global online brokers under a simple premise – offering the best possible platform at the lowest price, which remains a priority for the company. Under the guidance and direction of both Mr. Peterffy and Mr. Galik, Interactive Brokers surpassed 2 million client accounts in 2022, marking a significant milestone.
