Thomas Peterffy was the founder, chairman and chief executive officer of Interactive Brokers Group, Inc., the U.S.-based broker-dealer and proprietary trading business.
He announced in January 2019 that he would step down as CEO in Q3 2019, concurrent with his 79th birthday, after running Interactive Brokers for 42 years. He appointed Milan Galik as CEO but remains chairman.
Peterffy emigrated from Hungary to the United States in 1965. After working for 10 years as computer programmer, he became a member and options trader at the American Stock Exchange.
Peterffy developed hand-held computers as an aide to floor trading in the early 1980s, ahead of much of the rest of the industry. He established Timber Hill as a proprietary trading firm and used his technological edge to make it into a major market making firm.
When high-speed trading came along, it squeezed the profit out of Timber Hill's computer-driven marketmaking operation, so Peterffy looked to develop his own discount brokerage. He began developing a communications network in the 1980s for routing orders to exchanges and stock markets around the world, which became the foundation for Interactive Brokers Group, Inc. His smart order routing systems created a model for customer execution.
Peterffy received the Joseph P. Sullivan Award at the 24th Annual Options Industry Conference in May 2006, and in 2007, he was inducted into the Futures Industry Association's Futures Hall of Fame, which was established in 2005 to commemorate outstanding contributions to the global futures and options community. 
In November of 2007, Peterffy received the American Hungarian Foundation George Washington Award.
"Thomas Peterffy: Innovative Broker" by Jim Kharouf in CME Group Magazine
Published Works, Statements & Speeches
- Investment Strategy
- SPEECH OF THOMAS PETERFFY. BEFORE THE INTERNATIONAL OPTIONS MARKETS ASSOCIATION
- Statement of Thomas Peterffy Chairman, Interactive Brokers Group to SEC
- Thomas Pechy Peterffy - NFA ID 0258601
- Interactive Brokers LLC - NFA ID 0258600
- Timber Hill LLC - NFA ID 0264315
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