Interactive Brokers - írországi átállás

Dear Client,

A short while ago we emailed you about the arrangements we were making to ensure that you will be able to continue to do business with the Interactive Brokers Group (“IBKR”) at the end of the Brexit transition period.

We now invite you to transfer your account from Interactive Brokers (U.K.) Limited (“IBUK”) to Interactive Brokers Ireland Limited (“IBIE”). We hope the information we have set out below is helpful and makes clear what we are proposing, why we are proposing it, and what you need to do to continue to do business with us.

1. WHY DO THINGS HAVE TO CHANGE?

Your relationship with IBUK utilises what is known as a financial services passport which allows the provision of services across Europe. IBUK’s passporting rights are expected to expire at the end of the year, and IBKR therefore plans to do business with you through a European entity as of 1 January 2021.

2. WHAT IS THE PLAN?

We propose to transfer your account (including all positions, such as your cash, securities, and contracts) from IBUK to IBIE. Our intention is that once your account is transferred, all investments and services will be provided by IBIE (for convenience we will refer to this as the “Proposed Transfer”). For more detail on the Proposed Transfer, please read our FAQs.

3. WHO IS IBIE? IS IT SIMILAR TO IBUK IN TERMS OF REGULATORY STATUS?

We applied to the Central Bank of Ireland for IBIE to be authorised as an investment firm. IBIE’s application is currently in the third and final phase of the application process. Provided the application is approved as expected, IBIE’s regulatory status and profile will be very similar to IBUK’s. Both IBIE and IBUK will be authorised pursuant to the second Markets in Financial Instruments Directive (Directive 2014/65/EU). The purpose of MIFID is to harmonise, as much as possible, how investment firms are regulated across the European Union.

However, there are some differences between the regulations that apply. There will be some important changes to the way your assets will be protected:

• Currently, your eligible assets are protected from loss either under the US Securities Investor Protection Corporation or the UK Financial Services Compensation Scheme (which regime applies depends on the relevant segment of your IBUK account). The FAQs provide further details in Question 2 of Part B available here.

• After the Proposed Transfer, the Irish Investor Compensation Scheme will protect your assets from loss should IBIE default and be unable to meet its obligations to you. The FAQs provides further details in Question 4 of Part B.