Interactive Brokers Enhances Efficiency with CoacsConnect

Interactive Brokers has adopted Pirum’s CoacsConnect solution to enhance the processing of its corporate actions. This move is part of the broker’s ongoing effort to streamline operations and reduce risks, particularly in managing income claims and voluntary corporate actions.

CoacsConnect, a centralized platform designed to handle corporate actions, processes an average of $3.8 billion worth of corporate actions daily, offering a customized solution to meet the unique needs of individual clients. Pirum’s Chief Revenue Officer, Jacob Koopmans, highlighted that companies like Interactive Brokers are rapidly moving away from outdated practices to provide more efficient services to clients. 

The CoacsConnect platform is expected to significantly improve operational efficiency by reducing email traffic, accelerating response times, and automating payment processes. Additionally, it offers key features such as audit trails, alerts, and real-time updates, all designed to mitigate risks and ensure the timely handling of critical corporate events. 

Interactive Brokers Enhance Efficiency with CoacsConnect

The adoption of CoacsConnect comes as part of Interactive Brokers’ broader strategy to improve its global service offering. The platform’s automation and digitalization capabilities are set to simplify processes and improve client satisfaction. Koopmans expressed optimism about the collaboration, noting the ongoing development of CoacsConnect to benefit their mutual clients further.

In its latest financial report, Interactive Brokers showed strong growth, with Q4 2024 revenue increasing by 21.7% year-over-year to $1.39 billion. The company also saw a significant rise in pre-tax income, which grew by 27.4%, reaching $1.04 billion. Diluted earnings per share surged to $1.99, reflecting substantial trading volumes and higher net interest income. The firm reported robust customer growth, with a rise in accounts and customer equity, and noted an increase in margin loans and daily trading activity.

Looking to expand its footprint, Interactive Brokers is considering acquiring Saxo Bank. It has already opened a new office in Dubai, a region attracting significant interest from Western financial services firms.

Getting to Know the Stock Broker 

• Interactive Brokers offers competitive fees and global trading options. 
• Also, the platform is user-friendly and cost-effective with competitive spreads. 
• It also provides a straightforward trading experience for diverse needs. 
• Traders and investors can access a wide range of assets. 
• Novices may need time to master its robust tools. 

Also, Check out Stock Brokers Reviews for the latest enhancements and take your trading to the next level.