Zions Direct Selects Interactive Brokers as New Clearing Firm
February 15 2017 - 10:40AM
Business Wire
IB providing custody, clearing and trade
execution to Zions Direct Clients
Interactive Brokers Group, Inc. (NASDAQ:IBKR) and the Zions
Direct, Inc. subsidiary of Zions Bancorporation (NASDAQ:ZION) today
announced that Zions Direct has selected Interactive Brokers LLC as
its new clearing firm. Interactive Brokers is assuming the trade
execution, clearing and custody functions previously provided by
National Financial Services LLC (NFS).
Zions Direct, which specializes in offering securities to
self-directed investors, will continue to serve as the
broker-dealer for its clients. Zions Direct has approximately
12,000 clients and $2.2 billion in customer assets.
“At Zions Direct, we continuously strive to improve the tools we
provide to clients to help them achieve their goals,” said Lincoln
Taylor, President of Zions Direct. “IB’s platform and technology
lead the brokerage industry,” Mr. Taylor noted. “After a rigorous
selection process, we picked IB because they help us offer leading
technology and a great online experience to our customers.”
Interactive Brokers is regularly ranked a top online broker.
Interactive Brokers and its affiliates execute more online trades
daily than any other firm – with nearly 1,000,000 trades executed
per day.
“Interactive Brokers is designed to serve clients of all sizes,”
said Steven Sanders, Executive Vice President at Interactive
Brokers. “For nearly 40 years, IB Group has been developing trading
technology that delivers significant advantages to traders,
investors and institutions worldwide. We believe IB offers a great
set of resources to Zions Direct and the wide variety of investors
they serve.”
About Zions Direct
Zions Direct is a registered broker/dealer and non-bank
subsidiary of ZB, N.A., a subsidiary of Zions Bancorporation, one
of the nation's premier financial services companies. Zions Bank
has been serving the communities of the Intermountain West for more
than 140 years. Zions currently operates over 480 full-service
banking offices in Arizona, California, Colorado, Idaho, Nevada,
New Mexico, Texas, Utah and Washington.
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 120 markets in numerous countries
and currencies from a single IB Universal Account℠ to customers
worldwide. We service individual investors, hedge funds,
proprietary trading groups, financial advisors and introducing
brokers. Our four decades of focus on technology and automation
have enabled us to equip our customers with a uniquely
sophisticated platform to manage their investment portfolios at
extremely low cost relative to the financial services industry. We
strive to provide our customers with advantageous execution prices
and trading, risk and portfolio management tools, research
facilities and investment products, all at the lowest possible
prices, positioning them to achieve superior returns by providing
low costs compared to our competitors.
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version on businesswire.com: http://www.businesswire.com/news/home/20170215005717/en/
Interactive Brokers Group, Inc.For Investors:Nancy Stuebe,
203-618-4070orFor Media:Kalen Holliday, 203-913-1369
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