Pirum, a technology provider specializing in securities
finance automation and collateral management, announced today (Tuesday) that
Interactive Brokers has implemented its CoacsConnect solution. Interactive
Brokers, an automated global electronic broker, aims to automate corporate
actions for its global client base through this adoption.

Pirum Automates $3.8 Billion Daily Actions

“Thanks to forward-looking firms like Interactive
Brokers, which insist on offering best-in-class services to their customers,
this past practice is fast becoming outdated,” Jacob Koopmans, Chief
Revenue Officer at Pirum, said.

CoacsConnect is a centralized tool for managing corporate
actions. It includes features for income claims and voluntary corporate actions
and is tailored to individual client requirements. On average, the platform
processes corporate actions worth $3.8 billion daily.

Interactive Brokers selected CoacsConnect to improve
efficiency and manage risks in handling corporate actions. The decision was
influenced by Pirum’s established reputation for automation services and
connectivity across the securities finance sector.

Interactive Brokers Adopts CoacsConnect for Automation

The adoption of CoacsConnect is expected to simplify
operations for Interactive Brokers. Benefits include streamlined receivables,
reduced email volume, faster response times, and automated payments . Additional
features such as audit trails, alerts, and updates aim to enhance risk
management and ensure timely action on critical events.

“We look forward to collaborating closely with the
Interactive Brokers team, to support its roll out of automated and digitalized
corporate actions, and to continue developing CoacsConnect, for the benefit of
all our clients,” Koopmans added.

Interactive Brokers Reports Q4 2024 Earnings

Meanwhile, Interactive
Brokers reported Q4 2024 revenue of $1.39 billion, a 21.7% increase from
the previous year. Pre-tax income grew by 27.4% to $1.04 billion, and diluted
earnings per share rose to $1.99.

Commission-based revenue increased, driven by higher trading
volumes. Net interest income rose, and other fees saw a boost. The company also
saw strong customer growth, with accounts rising and customer equity
increasing. Daily trading activity grew, and margin loans surged.

The US-headquartered broker is also considering expansion
and reportedly
bid to acquire Saxo Bank. It has also opened
a new office in Dubai, which is now attracting many Western financial
services giants.