Interactive Brokers launches Nifty 50 Index Futures on SGX

GREENWICH, Conn. - Interactive Brokers (NASDAQ:IBKR), a global electronic broker with an impressive market capitalization of $81.2 billion and strong revenue growth of 17.7% in the past year, has expanded its offerings with the introduction of NSE IFSC Nifty 50 Index Futures on the Singapore Exchange (OTC:SPXCY) (SGX). According to InvestingPro data, the company’s robust 90.7% gross profit margin reflects its operational efficiency in the competitive brokerage industry. This move aims to provide traders with a cost-effective way to access India’s burgeoning market by trading the Nifty 50 Index Futures, which represents the 50 largest and most liquid companies on India’s National Stock Exchange.

The Nifty 50 Index encompasses a diverse range of sectors, including financial services, technology, oil & gas, and consumer goods. The availability of Nifty 50 Index Futures allows both individual investors and institutions to manage portfolio risk and gain exposure to India’s growing economy through a singular, liquid instrument.

Milan Galik, CEO of Interactive Brokers, stated, "This launch reflects our ongoing commitment to providing access to a broad range of global products, particularly for active traders and institutional investors."

Clients of Interactive Brokers can now trade USD-denominated Nifty derivatives through the NSE IFSC-SGX Connect, a platform that combines international and onshore market participants, thereby improving liquidity and efficiency for Nifty 50 products.

Interactive Brokers’ clients benefit from the firm’s competitive low commissions and can trade a variety of financial products from over 160 global markets using the company’s advanced trading platforms.

The introduction of the Nifty 50 Index Futures on SGX complements Interactive Brokers’ extensive portfolio of investment opportunities, reinforcing its position as a leading brokerage for informed investors seeking global market access. This information is based on a press release statement from Interactive Brokers Group, Inc.

In other recent news, Interactive Brokers Group has reported notable growth in its trading activity and client metrics. The company experienced a 48% increase in Daily Average Revenue Trades (DARTs) for February, reaching 3.617 million, marking a 4% rise from the previous month. Client equity climbed to $587.8 billion, a 31% increase year-over-year, despite a slight dip from January. Additionally, Interactive Brokers saw a 34% year-over-year increase in client margin loan balances, although there was a minor monthly decrease. The firm’s client credit balances rose to $123.8 billion, reflecting a 20% increase from the previous year.

Barclays (LON:BARC) has reaffirmed its Overweight rating on Interactive Brokers, maintaining a price target of $231, citing significant account growth and a positive trend in trading activity. Keefe, Bruyette & Woods also maintained a Market Perform rating with a $205 price target, noting robust trading activity and account growth. Bank of America highlighted Interactive Brokers as a top Buy recommendation, anticipating elevated cash sweep revenues due to favorable economic conditions. The number of client accounts at Interactive Brokers reached 3.54 million, a 32% increase from the prior year. These developments underscore the company’s strong performance and potential for continued growth in the brokerage industry.

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