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Interactive Brokers (IEX:IBKR) plans to launch trading on the Moscow Exchange in the coming weeks, founder and CEO Thomas Peterffy tells Benzinga.
Interactive Brokers is one of the largest online brokerages in the country, with 8,000 new accounts opened per month. One of its most successful endeavors over the past few decades is worldwide expansion — users today can trade in over 125 markets and over 30 countries on its platform.
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Earlier this year, Interactive Brokers introduced access to the Tel Aviv Stock Exchange, and Peterffy explained the main motivation behind this is the brokerage's heavy presence in the region.
"In Israel, we have a very large customer base because we have an IBKR customer for every 700 Israeli citizens, which is pretty high given that they have nine million people,” Peterffy told Benzinga.
Currently, the Moscow Exchange is only available to Russian citizens.
"We just opened the Moscow Exchange, but as of this moment we are only allowing Russian citizens to trade there,” said Peterffy. He confirmed any normal kinks that come with opening an exchange in another hemisphere will be worked out soon.
"We will be publicly opening in Russia soon... That's going to be a big launch."
Interactive Brokers traded around $55 per share at time of publication.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.