Tuesday, September 14, 2021 | 12:00 PM to 1:00 PM
In this program, Thomas Peterffy, chairman and founder of global electronic brokerage firm Interactive Brokers Group, is interviewed by CNBC Senior Markets Correspondent Bob Pisani.
About the Speakers
Thomas Peterffy has been at the forefront of applying computer technology to automate trading and brokerage functions since soon after he emigrated from Hungary to the United States in 1965. In 1977, after purchasing a seat on the American Stock Exchange and trading as an individual marker maker in equity options, Mr. Peterffy was among the first to apply a computerized mathematical model that would disseminate continuous bid and offer prices. Five years later, 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.
By 1986, Mr. Peterffy developed and employed a fully integrated, automated market making system for stocks, options and futures. As this pioneering system extended around the globe, online brokerage functions were added. In 1993, Interactive Brokers was formed, using its global capacity for transaction processing to link up with the electronic exchanges that were starting up around the world. Today, Interactive Brokers seeks to stay at the forefront of automation and to remain the low-cost producer. It is the second largest publicly-traded electronic broker, as measured by DARTs, providing direct access trade execution and clearing services to institutional and professional traders for a wide variety of electronically traded products including stocks, options, futures, forex, bonds, CFDs and funds on over 135 trading venues and 27 currencies around the world.
Bob Pisani is Senior Markets Correspondent for CNBC. A CNBC reporter since 1990, Pisani has covered Wall Street and the stock market for nearly 20 years. He covered the real estate market for CNBC from 1990-1995, then moved on to cover corporate management issues before becoming Stocks Correspondent in 1997. In addition to covering the global stock market, he also covers initial public offerings (IPOs), exchange-traded funds (ETFs) and financial market structure for CNBC.
