Thomas Peterffy
Thomas Peterffy is theFounder and Chairman of Interactive Brokers, an automated global electronic broker with more than $15 billion in equity capital. A pioneer of digital trading in the 1980s, Peterffy was the first to build computer systems able to trade financial assets electronically, independent of direct human intervention. He built the first automated market-making firm for stocks, options, and futures, which later gave rise to Interactive Brokers. Peterffy is a recognized pioneer in the advancement of securities markets and electronic brokerage and trading. He has been at the forefront of applying computer technology to automated trading and brokerage functions.
Thomas Peterffy Professional Experience / Academic History
Professional Experience
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Founder and Chairman
Academic History
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Drop Out
Under his leadership, IBKR has become the world’s largest electronic broker that markets its specialized trading platform to sophisticated investors.
IBKR is one of the world's leading lending platforms that specializes in providing advanced trading technology and brokerage services to institutional and retail investors
The firm was one of the first adopters of technology for financial markets and continues to excel in bringing trading tools and technology to the markets.
TRADING CAREER HIGHLIGHTS
During his career in finance, Peterffy consistently pushed to replace manual processes with more efficient and effective automated ones.
His formula for pricing contingent assets was an early version of what is now known as the Black-Scholes model.
In 1977, after purchasing a seat on the American Stock Exchange and trading as an individual marker maker in equity options, he was the first to apply a computerized mathematical model that would disseminate continuous bid and offer prices.
He built and ran an automated trading system for equity options and, in 1983, he was the first to develop a tablet computer for use by his employees trading on exchange floors.
In 1986, he developed and employed a fully integrated, automated market-making system for stocks, options, and futures.
RECOGNITIONS
2007 Futures Hall of Fame, Future Industry Association
2007 George Washington Award, American Hungarian Foundation
2006 Joseph P. Sullivan Award, Options Industry Conference
EARLY LIFE
Peterffy is a Hungarian-born American billionaire businessman.
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.
MEDIA & APPEARANCES
Peterffy has been featured or quoted in Forbes, Bloomberg, Markets Insider, CNBC, MarketWatch, Yahoo! Finance, and Financial Times.
He has appeared as a guest on Real Vision.