IBKR Forms Strategic Partnership with Daol Investment & Securities to Build Global Investment Platform
Interactive Brokers (IBKR) in the United States announced that it has formed a strategic partnership with Daol Investment & Securities to build a two-way global investment platform.
According to Business Wire and other major foreign media outlets on August 26, through this collaboration, eligible Korean investors will be able to access global equities via the Daol Investment & Securities platform, utilizing IBKR's trading infrastructure. IBKR stated that this partnership demonstrates its strengths as a provider of securities technology and white-label solutions for introducing brokers worldwide.
IBKR, which is listed on Nasdaq and included in the S&P 500 index, is a global electronic brokerage firm that has focused on electronic trading technology and automation for approximately 50 years. It manages more than 5 million customer accounts globally and processes over 4 million trades per day across more than 170 markets.
The two companies introduced the first result of their collaboration on August 19, unveiling the global trading platform 'DAOL Fi PRO.' This platform connects IBKR's trading infrastructure with Daol Investment & Securities' stock services. Daol Investment & Securities handles domestic service operations including account and fund management, customer service, and investor protection, while IBKR supports the global trading infrastructure.
DAOL Fi PRO incorporates IBKR's smart routing technology, which compares market prices and available volumes across multiple trading venues to optimize order routing. The platform is equipped with infrastructure to connect with over 170 global markets in the future, and the current 8 order types will be sequentially expanded to more than 26 types. It also provides access to over 80 global news and research sources and more than 5,000 analyst ratings.
David Friedland, Head of Asia-Pacific (APAC) at IBKR, stated, "We are pleased to work with Daol to expand global equity access for Korean investors. Our technological capabilities and broad access to global markets will help financial institutions worldwide enhance their work operations and improve customer service."
Hot Picks Today
"Interest Rate Hikes Have an Upside": Sectors Gaining 'an Average 12% Rise' as Semiconductors Stumble
- Children, Grandchildren, and Great-Grandchildren... Stir Over Donghak Revolution Descendants Receiving 100,000 Won Monthly Stipend 132 Years On
- "We'll Get at Least 30 Million Won a Month"... Cheongdam-dong Landlords Won't Lower Rent Despite Year-Long Vacancies
- Dozens of "Snakes" Spill onto Train Floor?... Chaos Erupts in China Subway, Turns Out to Be Eels
- "Even If It Costs More Than the Drink... Chinese Millennials and Gen Z Drive Trend for 'Stickers' Pricier Than Beverages"
Byungchul Lee, Chairman of Daol Financial Group, said, "This collaboration is aimed at offering Korean investors a new investment experience directly connected to global securities infrastructure. Through cooperation that encompasses expanding accessible markets, derivatives, and direct investment services in Korea for overseas investors, we plan to further develop this into a long-term, two-way global investment platform."
© The Asia Business Daily. All rights reserved. Unauthorized AI training and use prohibited.
