Interactive Brokers to add NextShares on-exchange managed funds to offering

Interactive Brokers to add NextShares on-exchange managed funds to offering

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US automated forex brokerage house Interactive Brokers said on Thursday it intends to start offering NextShares exchange-traded managed funds. The new instruments will be available to retail clients and professional investors.

The broker did not specify when it will start trading in NextShares.

NextShares was recently launched and presents a next-generation approach to handle actively managed strategies. Its structure could easily be applied across all asset classes and strategies in which mutual funds invest. Because they are actively managed, NextShares offer the potential for benchmark-beating returns by applying their manager’s proprietary investment research.

“The potential performance and tax advantages of NextShares and the advanced trading technology and customer focus of Interactive Brokers are a powerful combination,” said Stephen W. Clarke, president of NextShares Solutions. “NextShares on the Interactive Brokers platform should be a highly competitive alternative to mutual funds offered on fund supermarkets. We are proud to work together to provide greater access to NextShares.”

NextShares is a product of US-based NextShares Solutions, a subsidiary of investment manager Eaton Vance. The first NextShares, a US equity strategy, was launched by Eaton Vance in late February 2016. A month later, the company launched two additional NextShares funds – one for mutual bonds and the other for global equities. The three funds are trading on the Nasdaq Stock Market; they are bought and sold in secondary market trades through a brokerage account. More NextShares funds, including such offered by other asset managers, are expected by the end of the year.

NextShares Solutions was set up to develop and commercialize NextShares.

Connecticut-based Interactive Brokers is a broker and a market maker. Through its numerous subsidiaries, the company offers online automated trading in stocks, options, futures, forex, bonds, contracts for difference (CFDs) and funds. It serves traders, investors and institutions in over 100 market across the globe.

The brokerage has offices in the North America, Europe, Australia, and Asia. The group companies holds licenses by the relevant authorities in the US and the UK.

Source: Interactive Brokers

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