Global online broker Interactive Brokers (IB) has expanded its product offering to include direct access to Australian stocks and options.
IB will offer access to the Australian stocks through its desktop trading platform, Trader Workstation (TWS).
The new product enables clients to trade Australian Securities Exchange (ASX) listed options on a flat commission structure of $1.88 per contract plus exchange fees, with no minimum to trade.
Australian stocks are now being offered at a competitive commission rate of 0.08 per cent of trade value, with a $6 trade minimum.
IB also gives traders the ability to short these Australian stocks.
Managing director Steve Kelsey said the decision to offer ASX-listed stocks and options to its clients stemmed from the company’s wish to tap into liquid derivatives markets globally.
“The Australian options market is a dynamic, liquid environment in which clients are keen to navigate, so it was naturally in our interest to make this frontier available through our trading platform – but on far more competitive and attractive price terms than the market has offered up to now,” Kelsey said.
Last month America’s Securities Exchange Commission granted relief to certain classes of the ASX exchange traded options, allowing US investors to access the market directly through an online broker.
IB provides professional traders and investors with access to stocks, options, futures, foreign exchange and bonds from a single account.
