Interactive Brokers Group Inc.

10/20/2021 | Press release | Distributed by Public on 10/21/2021 12:23

Interactive Brokers Introduces Request for Payment Service from J.P. Morgan October 20, 2021

Investors Can Fund Accounts and Trade in Real-Time

GREENWICH, CT, October 20, 2021 - Interactive Brokers Group (Nasdaq: IBKR), a global brokerage firm, today announced it went live with J.P. Morgan (NYSE: JPM) on Request for Payment, a real-time payment-related messaging service that is provided through The Clearing House RTP network. Request for Payment gives investors the ability to make instant deposits 24/7 to fund brokerage accounts and begin trading immediately. Request for Payment is designed to be a fast, transparent and secure method of initiating payment requests that provides investors with an alternative to legacy money transfer services that can take up to five business days to settle into brokerage accounts. Interactive Brokers is the first brokerage in the U.S. to offer the Request for Payment service to select clients.

"Interactive Brokers has its roots in technological innovation and Request for Payment is yet another example of how we offer clients advanced technology solutions to make it simple to fund and manage accounts," said Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers. "Both new retail investors and our active trader client base will certainly benefit from the flexibility to fund their brokerage accounts in real time to trade the wide range of global and low-cost products available on the Interactive Brokers platform."

Request for Payment allows clients to make deposit requests directly from their brokerage accounts. Clients can then authorize the payment from their mobile banking app or other bank portal and promptly trade with the funds at Interactive Brokers. While initially available to U.S. clients of Interactive Brokers with Chase accounts, the capability is expected to expand to other bank customers over the next few months.

"We are excited to bring our market leadership and scale in Real Time Payments to support innovative clients like Interactive Brokers Group as they build new customer experiences," said Cyrus Bhathawalla, Global Head of Real Time Payments, J.P. Morgan. "Being able to trade instantly by funding a brokerage account after receiving a Request for Payment is just one of the many ways we hope to see clients using our faster payment solutions."

About Interactive Brokers Group, Inc.:

Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities and foreign exchange around the clock on over 135 markets in numerous countries and currencies, from a single IBKR Integrated Investment Account to clients worldwide. We service individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation has enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Barron's ranked Interactive Brokers #1 with 5 out of 5 stars in its February 26, 2021, Best Online Broker Review.

Contacts for Interactive Brokers Group, Inc.
Media: Katherine Ewert, [email protected]