People

Thomas Peterffy

Thomas Peterffy

Formal First Name
Thomas
Dates
1944 - present
Location

Thomas Peterffy is the Founder and Chairman of Interactive Brokers. He has always been ahead of the curve for his entire career. A digital trading pioneer, his passion for technology contributed immensely to the gradual adoption of electronic trading at U.S. Exchanges. Peterffy played a key role in developing the first electronic trading platform for brokers and securities. He was the first to develop handheld computer systems as an aide to trading financial assets electronically, without human interference, in the early 1980s.

  • In high school in Hungary, Peterffy sold contraband Juicy Fruit gum to classmates at a 150% markup.
  • Born in Budapest, he emigrated to the United States in 1965 at age 21 to escape communism. 
  • He landed his first job in the U.S. as an architectural draftsman.
  • He saved up $200,000 to buy a $36,000 seat on the American Stock Exchange, where he traded options.
  • He learned computer programming and developed a formula for pricing contingent assets, an early version of the one known today as Black Sholes. 
  • He was one of the first to apply computer models to the valuation of stock options.
  • He is a major landowner with more than 500,000 acres of timberland, primarily located in Florida.
  • He has appeared as a guest on Real Vision.