IBKR sees drop in securities lending interest income
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IBKR sees drop in securities lending interest income 23 April 2019London Reporter: Rebecca Delaney
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Íø±¬³Ô¹Ï lending interest income saw a decrease of 12 percent in Q1 2019 compared to Q1 2018, according to Interactive Brokers Group (IBKR).
In its report of Q1 2019 earnings, IBKR identified that this reduction can be attributed to fewer hard-to-borrow names that investors wanted to short.
Paul Brody, CFO and treasurer of IBKR added that a larger proportion of interest income in securities lending is now categorised as interest income earned on segregated funds.
Furthermore, securities lending income has seen an increase of 4 percent sequentially over Q4 2018, as the firm continues the optimisation of lending on market opportunities.
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