IC Markets Expands into Emerging Markets

As June kicks off, the global brokerage and financial services industry is buzzing with expansion plans, strategic investments, and regulatory shifts. From Tiger Brokers doubling down on Hong Kong to IC Markets pushing into emerging markets, this week’s highlights reveal an accelerating pace of globalization and innovation across the sector. Here’s your curated roundup of the 10 most important broker-related developments you need to know.

 

1. Tiger Brokers Plans to Double Hong Kong Workforce

 

Tiger Brokers announced plans to double its Hong Kong headcount over the next two to three years, aiming to capture a larger share of offshore Chinese wealth. The firm’s assets under custody in Hong Kong quadrupled year-on-year in Q1 2025, reflecting increased demand from high-net-worth individuals and institutional clients. 

 

2. Interactive Brokers Embraces 24-Hour Trading

 

Interactive Brokers’ Chairman, Thomas Peterffy, highlighted the growing momentum of 24-hour trading, noting that approximately 2.2% of the firm’s trading volume occurred during overnight hours as of May. He anticipates this figure could rise to 25%-30% over the next two decades, driven by increasing global interest in U.S. equities. 

 

3. IC Markets Expands into Emerging Markets

 

IC Markets is extending its operations into Africa, the Middle East, and Southeast Asia. The broker secured a license in Kenya and is seeking regulatory approval in the UAE, aiming to cater to advanced traders and institutions in these regions. 

 

4. Carlyle Invests $1.3 Billion in Trucordia

 

Carlyle Group made a $1.3 billion strategic equity investment in insurance brokerage Trucordia, increasing the company’s valuation to $5.7 billion. The funds will be used to reduce debt and streamline governance by repurchasing shares from minority investors. 

 

5. Verlingue London Markets Enters Professional Lines

 

Verlingue London Markets announced plans to enter the professional lines market in 2025, targeting sectors such as Directors & Officers and professional indemnity insurance. This move aims to diversify the firm’s service offerings and strengthen its position in the London insurance market. 

 

6. Spark Capital PWM Establishes Presence in Dubai

 

Spark Capital Private Wealth Management expanded its operations into the Dubai International Financial Centre, aiming to serve global investors with diversified investment opportunities. The firm has experienced substantial growth, increasing its assets under management from approximately INR 3,000 crores in April 2023 to INR 30,000 crores in May 2025. 

 

7. Interactive Brokers Expands Prediction Market Access

 

Interactive Brokers expanded access to its Forecast Contracts, allowing clients to trade nearly 24 hours a day, Sunday through Friday. These contracts enable investors to bet on economic, political, and environmental events, providing flexibility to manage risk and express market views in real-time. 

 

8. IC Markets Reports on Asia’s Economic Indicators

 

IC Markets highlighted that new export orders in Asia fell for the first time in 2025, dampened by tariffs. However, employment increased for the first time in three months, with the rate of growth being the fastest since last November. Steady growth in the services sector could provide near-term support for crude oil prices. 

 

9. Carlyle’s Investment Reflects Confidence in Insurance Sector

 

Carlyle’s $1.3 billion investment in Trucordia underscores the resilience of the insurance brokerage industry amid economic uncertainties. The additional capital is viewed as a preparatory step for future potential transactions and aims to provide long-term financial flexibility. 

 

10. Verlingue London Markets Launches New Lloyd’s Broker

Verlingue London Markets launched a new Lloyd’s broker, Verlingue London Markets Europe, as part of its ongoing growth strategy. The new branch will focus on providing placement and capacity solutions for European Union broker partners, covering key areas such as property, casualty, motor fleet, and specialist lines.