Thomas Peterffy born [2] [3] is a Hungarian-born American entrepreneur. He is the founder, chairman, and CEO of Interactive Brokers Group, Inc. Peterffy worked as an architectural draftsman after emigrating to the United States and later became a computer programmer.

In , Peterffy purchased a seat on the American Stock Exchange and played a role in developing the electronic trading of securities. He is the largest shareholder of his company, Interactive Brokers. Thomas Peterffy was born in Budapest , Hungary in , in a hospital basement during a Russian air raid.

He eventually earned a bachelor's degree from Clark University. Peterffy began his career in the US as an architectural draftsman working on highway projects for an engineering firm. It was at this firm that he volunteered to program a newly-purchased computer, ultimately shaping the course of his future. Of his background in programming Peterffy said, "I think the way a CEO runs his company is a reflection of his background. Business is a collection of processes, and my job is to automate those processes so that they can be done with the greatest amount of efficiency.

Peterffy left his career designing financial modelling software and bought a seat on the American Stock Exchange to trade equity options. During his career in finance, he has consistently pushed to replace manual processes with more efficient automated ones. He would write code in his head during the trading day and then apply his ideas to computerized trading models after hours. Peterffy created a major stir among traders by introducing handheld computers onto the trading floor in the early s.

In , Peterffy was influential in persuading the Securities and Exchange Commission SEC that US options markets could be linked electronically, which would ensure that investors receive the best possible options prices. During the United States presidential campaign , Peterffy created political ads in support of the Republican Party. Peterffy bought millions of dollars of air time on networks such as CNN , CNBC , and Bloomberg.

The ads consisted of a minute-long spot narrated by Peterffy that warned against creeping socialism in the United States.

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The ads were considered remarkable in part because Peterffy is not a candidate and did not buy the ads through a " group" but instead paid for them directly. In the spot Peterffy said, "America's wealth comes from the efforts of people striving for success. Take away their incentive with badmouthing success and you take away the wealth that helps us take care of the needy.

Yes, in socialism the rich will be poorer -- but the poor will also be poorer. People will lose interest in really working hard and creating jobs. Peterffy's ad received mixed responses.

Joshua Green, writing for Bloomberg Businessweek , said "The ad, while slightly ridiculous, is deeply sincere and also quite affecting".

Green also asked Peterffy whether the comparison between the United States and Hungary made in the ad was a fair one: The government isn't suppressing speech and throwing political opponents in jail. No, he conceded, it wasn't. But it sure feels like that's the path we're on". Voter registration records in Connecticut show that Peterffy is registered as an independent voter. Interactive Brokers Group, Inc. IB is an online discount brokerage firm in the United States.

The company traces its origin to when Peterffy bought a seat on the American Stock Exchange as an individual market maker, and formed T. IB consists of many subsidiaries operating on most major stock , futures , bonds , forex , and options exchanges worldwide.

The company commenced a public offering on 4 May under the ticker symbol NASDAQ: IBKR on the Nasdaq exchange. An analysis of their on-line website, however, indicates many higher charges than traditional brokers e.

OneChicago is an all-electronic exchange owned jointly by IB Exchange Group IB , Chicago Board Options Exchange CBOE , and CME Group. It is a privately held company that is regulated by both the Securities and Exchange Commission and the Commodity Futures Trading Commission.

The OneChicago corporate headquarters is located in the Chicago Board of Trade Building in Chicago's financial district. OneChicago offers approximately 2, single-stock futures SSF products [18] with names such as IBM , Apple and Google. All trading is cleared through Options Clearing Corporation OCC.

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OneChicago currently operates the only U. Peterffy was involved in the founding of the Boston Options Exchange BOX.

BOX is an automated stock exchange owned and operated by the TMX Group. As an equity options market, it provides electronic order matching services to stockbrokers and traders. In August BOX began operations as a subsidiary of the Montreal Exchange , it increased its equity position to Its equity partners include Citigroup , Credit Suisse , Interactive Brokers, JP Morgan , Morgan Stanley , UBS and Citadel Derivatives Group LLC. BOX offers price improvement to traders through its patent-pending Price Improvement Period automated trading mechanism.

PIP allows clients with broker guarantees on the first penny of price improvement a small period to improve upon available prices.

Thomas Peterffy - Wikipedia

From Wikipedia, the free encyclopedia. Retrieved June 16, A Genuine Self-Made Billionaire". The Wall Street Journal. Retrieved July 2, The Street Was Paved With Gold".

The New York Times. Retrieved June 17, Institutional Investor Magazine November Retrieved June 27, Retrieved November 5, Retrieved 10 October Options Exchange of the Year" PDF.

The Norwalk Daily Voice. Retrieved 13 July The New York Post. Retrieved 22 July Wealthiest people in the United States by state. Leonard Hyde and Jonathan Rubini. Gore and Elizabeth Snyder. Bill and Susan Alfond. Mary Alice Dorrance Malone. Retrieved from " https: Living people births Clark University alumni American money managers American financial analysts Stock and commodity market managers American philanthropists American billionaires Hungarian billionaires Businesspeople from Greenwich, Connecticut Hungarian emigrants to the United States American computer programmers American chief executives of financial services companies American financial company founders American technology company founders 20th-century American businesspeople 21st-century American businesspeople.

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