Interactive Brokers Creates Vendor Arm to Consolidate Data Ops

The creation of GFIS is the culmination of a three-year plan to consolidate and improve how the broker managed hundreds of data sources.

subsidiary

Greenwich, Conn.-based online broker Interactive Brokers has set up a new data vendor subsidiary, based in Switzerland, to consolidate the firm’s data-acquisition operations under a single entity. It also aims to provide lower data costs to its brokerage clients.

The broker first conceived the idea for the vendor arm, dubbed Global Financial Information Services (GFIS), three years ago, and formally set the wheels in motion at the start of 2019. Last July, they formed a separate entity, and IB

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