Interactive Brokers, an automated global electronic broker, announced the expansion of Forecast Contracts into Europe today (Wednesday). Theseevent-based contracts allow investors to take positions on clearly definedoutcomes related to financial, economic, and climate indicators. Trading isavailable nearly 24 hours a day, 6 days a week.Managing Events-Driven Risks Interactive Brokers explained that forecast contracts offer a straightforward way to express a view or manage risk tied to a specificevent. Each Forecast Contract is based on a simple yes-or-no question. “Investors worldwide are increasingly seeking tools thathelp them manage event-driven risks with precision and simplicity,” said MilanGalik, Chief Executive Officer at Interactive Brokers. “By extending access toForecast Contracts in Europe, we’re giving investors more ways to act on theirviews and manage risk through our comprehensive, global platform.”Investors can trade through IBKR ForecastTrader,a dedicated web-based interface, or other interactive broker platforms. Contracts also pay an interest-like incentive coupon basedon the market value of open positions. The incentive accrues daily and is paidmonthly. The current annualized rate is 3.83 percent APY. This rate is subjectto change and terms apply.Forecast Contracts are available to eligible clients ofInteractive Brokers LLC, Interactive Brokers Ireland Limited, InteractiveBrokers Canada Inc., and Interactive Brokers Hong Kong Limited. ForecastEx LLC, a wholly owned subsidiary of Interactive Brokers and a CFTC-regulated Designated Contract Market, lists the product.Expect ongoing updates as this story evolves.This article was written by Jared Kirui at www.financemagnates.com.