Interactive Brokers

File:PeterffyHandheld2016.png interview, 2016]]

In 1977, Thomas Peterffy left his job designing commodity trading software for Mocatta Metals, and bought a seat on the American Stock Exchange (AMEX) as an individual market maker. The following year, he formed his first company, named T.P. & Co., to expand trading activities to several members under badge number 549. At the time, trading used an open outcry system; Peterffy developed algorithms to determine the best prices for options and used those on the trading floor,{{cite news | url=https://www.forbes.com/sites/abrambrown/2014/11/05/billionaire-thomas-peterffy-practically-invented-digital-trading-now-he-wants-to-be-your-broker/ | last=Brown | first=Abram |title=Billionaire Thomas Peterffy Practically Invented Digital Trading. Now He Wants To Be Your Broker | work=Forbes | date=November 5, 2014 | url-access=limited}} and thus the firm became the first to use daily printed fair value pricing sheets. In 1979, the company expanded to employ four traders, three of whom were AMEX members. In 1982, Peterffy renamed T.P. & Co. to Timber Hill Inc.; he named it after a road to a favorite retreat,{{cite news|url=https://www.institutionalinvestor.com/article/2btgh67qurrnlj9qq9ds0/home/a-breed-apart |last=McGee | first=Susan |title=A Breed Apart | work=Institutional Investor | issue=November 2005 | date=November 10, 2005}}{{cite book | url=https://books.google.com/books?id=3W-ePnCEL38C |last=Steiner |first=Christopher |title=Automate This: How Algorithms Came to Rule Our World |publisher=The Penguin Group |location=New York, New York | date=2012 | isbn=978-1-59184-492-1 |oclc=757470260}}{{rp|pages=30–31}} one of his properties on Hutchin Hill Road in Woodstock, New York. By 1983, Peterffy was sending orders to the floor from his upstairs office; he devised a system to read the data from a Quotron machine by measuring the electric pulses in the wire and decoding them. The data would be then sent through Peterffy's trading algorithms, and then Peterffy would call down the trades.{{rp|page=33}} After pressure to become a true market maker and keep constant bids and offers, Peterffy knew that he would need his employees to closely pay attention to market movements, and that handheld computers would help. At the time, the AMEX didn't permit computers on the trading floor. Because of this, Peterffy had an assistant deliver market information from his office in the World Trade Center.{{rp|page=11}} In November 1983, he convinced the exchange to allow computer use on the floor.

In 1983, Peterffy sought to computerize the options market, and he first targeted the Chicago Board Options Exchange (CBOE). At the time, brokers still used fair value pricing sheets, which were by then updated once or twice a day. In 1983, Timber Hill created the first handheld computers used for trading. As Peterffy explained in a 2016 interview, the battery-powered units had touch screens for the user to input a stock price and it would produce the recommended option prices,{{cite interview | url=https://www.cnbc.com/2016/04/25/pro-talks-billionaire-wall-street-pioneer-peterffy.html | last=Peterffy | first=Thomas |subject-link=Thomas Peterffy | interviewer=Mike Santoli | title=Pro Talks: Billionaire Wall Street Pioneer Peterffy | work=CNBC | date=April 25, 2016}}{{cite news | url=https://www.forbes.com/2007/05/04/peterffy-markets-trading-biz-wallst_cx_lm_0504peterffy.html | last=Moyer | first=Liz | title=He Told You So | work=Forbes | date=May 4, 2007 | url-access=limited}}{{cite web | url=https://www.interactivebrokers.com/en/general/about/info-and-history.php |title=About the Interactive Brokers Group |publisher=Interactive Brokers Group}} and it also tracked positions and continually repriced options on stocks. However, he immediately encountered opposition from the heads of the exchange. When he first brought a {{convert|12|in|cm|adj=mid|-long}} by {{convert|9|in|cm|adj=mid|-wide}} device to the exchange floor, a committee in the exchange told him it was too big. When he made the device smaller, the committee stated that no analytic devices were allowed to be used on the exchange floor. Effectively blocked from using the CBOE, he sought to use his devices in other exchanges.

File:IBcommunication.jpg to direct traders]]

Also in 1983, Timber Hill expanded to 12 employees and began trading on the Philadelphia Stock Exchange. In 1984, Timber Hill began coding a computerized stock index futures and options trading system and, in February 1985, Timber Hill's system and network was brought online. The system was designed to centrally price and manage risk on a portfolio of equity derivatives traded in multiple locations around the country. In 1985, Peterffy introduced his computer system to the New York Stock Exchange (NYSE), which allowed it. However, the stock exchange only allowed it to be used at trading booths several yards away from where transactions were executed. Peterffy responded by designing a code system for his traders to read colored bars emitted in patterns from the video displays of computers in the booths. This caused the exchange and other members to be suspicious of insider trading, which convinced Timber Hill to distribute instructions throughout the exchange, describing how to read the displays. In response, the exchange required the company to turn the screens away from the trading floor, which prompted Peterffy to hire a clerk to communicate with the traders via hand signals. Eventually computers were allowed on the trading floor.{{cite news | url=https://www.nytimes.com/2005/11/11/business/see-the-street-was-paved-with-gold.html | last=Story | first=Louise | title=See! The Street Was Paved With Gold | newspaper=The New York Times | date=November 11, 2005| url-access=limited}}

File:Twin Towers circa fall 1993.jpg.|alt=The 1973–2001 World Trade Center seen from the Hudson River]]

Timber Hill joined the Options Clearing Corporation in 1984, the New York Futures Exchange in 1985, and the Pacific Stock Exchange and the options division of the NYSE the following year. Also in 1985, the firm joined and began trading on the Chicago Mercantile Exchange, the Chicago Board of Trade and the Chicago Board Options Exchange. In 1986, the company moved its headquarters to the World Trade Center to control activity at multiple exchanges. Peterffy again hired workers to sprint from his offices to the exchanges with updated handheld devices, which he later superseded with phone lines carrying data to computers at the exchanges. Peterffy later built miniature radio transmitters into the handhelds and the exchange computers to allow data to automatically flow to them.{{rp|page=39}}

In 1987, Timber Hill joined the National Securities Clearing Corporation and the Depository Trust Company (now merged as the Depository Trust & Clearing Corporation). By 1987, Timber Hill had 67 employees and had become self-clearing in equities. In 1987, the CBOE was about to close down its S&P 500 options market due to the options not attracting sufficient trader interest. Because of this, Peterffy pledged that Timber Hill would make tight markets in the product for a year if the exchange would allow the traders to use handheld computers on the trading floor. The exchange agreed, and more traders were attracted by the change in pricing; today S&P 500 options are the most actively traded stock market index options in the U.S. In 1990, Timber Hill Deutschland GmbH was incorporated in Germany, and shortly thereafter began trading equity derivatives at the Deutsche Terminbörse (DTB), marking the first time that Timber Hill used one of its trading systems on a fully automated exchange. In 1992, Timber Hill began trading at the Swiss Options and Financial Futures Exchange, which merged with DTB in 1998 to become Eurex. At that time, Timber Hill had 142 employees.

While Peterffy was trading on the Nasdaq in 1987,{{cite interview | url=https://www.npr.org/2015/04/23/401781306/we-built-a-robot-that-types-the-man-behind-computerized-stock-trading | last=Peterffy | first=Thomas | interviewer=David Kestenbaum | title='We Built A Robot That Types': The Man Behind Computerized Stock Trading | work=All Things Considered | publisher=National Public Radio | date=April 23, 2015}} he created the first fully automated algorithmic trading system. It consisted of an IBM computer that would pull data from a Nasdaq terminal connected to it and carry out trades on a fully automated basis. The machine, for which Peterffy wrote the software, worked faster than a trader could.{{rp|pages=12–14}} Upon inspection, the Nasdaq banned direct interface with the terminal, and required trades to be typed in manually. Peterffy and his team designed a system with a camera to read the terminal, a computer to decode the visual data, and mechanical fingers to type in the trade orders, which was then accepted by the Nasdaq.{{rp|page=17}}

Interactive Brokers Inc. was incorporated in 1993 as a U.S. broker-dealer, to provide technology developed by Timber Hill for electronic network and trade execution services to customers.

In 1994, Timber Hill Europe began trading at the European Options Exchange, the OM Exchange and the London International Financial Futures and Options Exchange. Also in 1994, Timber Hill Deutschland became a member of the Belgium Futures and Options Exchange, IB became a member of the New York Stock Exchange, and the Timber Hill Group LLC was formed as a holding company of Timber Hill and IB's operations.

In 1995, Timber Hill France S.A. was incorporated and began making markets at the Marché des Options Négociables de Paris (a subsidiary of Euronext Paris) and the Marché à Terme International de France futures exchange. Also in 1995, Timber Hill Hong Kong began market making at the Hong Kong Futures Exchange and IB created its primary trading platform Trader Workstation and executed its first trades for public customers.

In 1996, Timber Hill Securities Hong Kong Limited was incorporated and began trading at the Hong Kong Stock Exchange.

In 1997, Timber Hill Australia Pty Limited was incorporated in Australia, and Timber Hill Europe began trading in Norway and became a member of the Austrian Derivatives Exchange. By 1997, Timber Hill had 284 employees.

In 1998, Timber Hill Canada Company was formed, and IB began to clear online trades for retail customers connected directly to Globex to trade S&P 500 futures.

In 1999, IB introduced a smart order routing linkage for multiple-listed equity options and began to clear trades for its customer stocks and equity derivatives trades. Also in 1999, Goldman Sachs attempted to purchase the company and was turned away.

In 2000, Interactive Brokers (U.K.) Limited was formed and Timber Hill became a primary market maker on the International Securities Exchange (ISE).

File:IBfloor.JPG

In 2001, the corporate name of the Timber Hill Group LLC was changed to Interactive Brokers Group LLC, which at the time handled 200,000 trades per day.

In 2002, Interactive Brokers, along with the Bourse de Montréal and the Boston Stock Exchange, created the Boston Options Exchange.{{cite book |url=https://books.google.com/books?id=veBdeTGxA4AC | last1=Fontanills | first1=George A. | last2=Gentile| first2=Tom | title=The Index Training Course | publisher=John Wiley & Sons | page=49 | date=2006 | isbn=9780470047361}}

Also in 2002, the company introduced Mobile Trader and an application programming interface for customers and developers to integrate their mobile phone systems with the IB trading system.{{cite news |url=https://www.ft.com/content/d8e78020-bce7-11df-89ef-00144feab49a |last=Fontanella-Khan |first=James |title=India moves into mobile phone shares trading | work=Financial Times |date=September 10, 2010}} Also in 2002, Timber Hill became the major market maker for the newly introduced U.S. single-stock futures.

In 2003, the company expanded its trade execution and clearing services to include Belgian index options and futures, Canadian stocks, equity/index options and futures, Dutch index options and futures, German equity options, Italian index options and futures, Japanese index options and futures, and U.K. equity options.

In 2004, the company introduced direct market access to its customers on the Frankfurt Stock Exchange and the Börse Stuttgart. In the same year, IB upgraded its account management system and Trader Workstation, adding real-time data including charts, scanners, fundamental analytics, and tools to the platform.

In 2005, the company launched its forex trading platform IdealPro (now Ideal FX).

In 2006, the IB Options Intelligence Report was launched to report on unusual concentrations of trading interests and changing levels of uncertainty in the option markets. Also that year, IBG took stakes in OneChicago, the ISE Stock Exchange, and the CBOE Stock Exchange.

In 2006, Interactive Brokers began offering penny-priced options.{{cite news | url=https://biggrowths.com/why-are-interactive-brokers-margin-rates-so-low/ | last=Schmerken | first=Ivy | title=Interactive Brokers Offers Penny Priced Options | work=Wall Street & Technology | publisher=UBM plc | date=October 25, 2006}}{{Cite news | last=Moyer | first=Liz | title=The Wallendas Hit Wall Street | url=https://www.forbes.com/2006/03/21/short-selling-stocks-futures-cx_lm_0322short.html |work=Forbes | date=March 21, 2006 | url-access=limited}}

On May 3, 2007, the company became a public company via an initial public offering (IPO) on the Nasdaq, selling 40 million shares, or 10% of the company, at $30.01 per share via a Dutch auction in the largest brokerage IPO since 2005.{{cite news | url=https://www.ft.com/content/a7df447c-fa35-11db-8bd0-000b5df10621 | last=Cameron | first=Doug | title=IPO values Interactive Brokers at $12bn | work=Financial Times | date=May 4, 2007}}{{cite news | url=https://www.wsj.com/articles/BL-DLB-37771 | last=Bunge | first=Jacob | title=Interactive Brokers Founder, CEO To 'Gradually' Retire | work=The Wall Street Journal | date=April 19, 2012 | url-access=subscription}}

In December 2007, the company acquired FutureTrade Technologies, an integrated electronic equity and option trading service provider.{{cite news |url=https://www.finextra.com/news/fullstory.aspx?newsitemid=17757 |title=Interactive Brokers buys FutureTrade Technologies | work=Finextra |date=November 20, 2007}}

In 2008, the company launched Risk Navigator, a real-time market risk management platform. Also in 2008, several trading algorithms were introduced to the Trader Workstation. Among these is the Accumulate-Distribute Algo, which allows traders to divide large orders into small non-uniform increments and release them at random intervals over time to achieve better prices for large volume orders.

In 2009, the company launched a mobile app for iOS.

In March 2009, the company launched brokerage services in India.{{Cite news | url=https://www.oneindia.com/2009/03/13/interactive-brokers-announces-launch-of-online-indian-broker.html | title=Interactive Brokers announces launch of Online Indian Brokerage Unit | work=Oneindia | date=March 13, 2009}}

In 2011, the company introduced several new services, including the Interactive Brokers Information System, Hedge Fund Capital Introduction Program, and the Stock Yield Enhancement Program. Interactive Brokers also became in 2011 the largest online U.S. broker as measured by daily average revenue trades.

During the Occupy Wall Street protests of 2011–2012, IB ran a series of television commercials with the catchphrase "Join the 1%", which were seen as a controversial criticism of the protests.{{cite news | url=https://www.huffpost.com/entry/interactive-brokers-occupy-wall-street_n_1380517 | last=Dicker | first=Ron | title=Interactive Brokers Ad Mocks Occupy Movement: 'Join The 1%' | work=HuffPost | date=March 26, 2012}}{{cite news | url=https://archive.nytimes.com/dealbook.nytimes.com/2012/03/26/is-it-o-k-to-joke-about-occupy-now/ | last=Roose | first=Kevin | title=Is It O.K. to Joke About Occupy Now? | work=The New York Times | date=March 26, 2012 | url-access=limited}}{{cite news | url=https://www.pri.org/stories/2012-03-26/open-season-occupy-wall-street |last=Mucha | first=Thomas | title=Open season on Occupy Wall Street?| work=Public Radio International | date=March 26, 2012}}{{cite book | url=https://books.google.com/books?id=V2FACwAAQBAJ | title=The Crisis and Renewal of U.S. Capitalism | first1=Laurence |last1=Cossu-Beaumont | first2=Jacques-Henri | last2=Coste | first3=Jean-Baptiste | last3=Velut | publisher=Routledge | pages=257–8 | date=2016 | isbn=978-1-138-90875-8}}

In 2012, the company began offering money manager accounts and opened the fully electronic Money Manager Marketplace. IB also released the TWS Mosaic trading interface and the Tax Optimizer for managing capital gains and capital losses.

In 2013, the company released the Probability Lab tool and Traders' Insight, a service that provides daily commentary by Interactive Brokers traders and third party contributors. Also in 2013, IB integrated its trading notification tool (called IB FYI) into the TWS. The tool keeps customers informed of upcoming announcements that could impact their account, and a customer can set it to automatically act to exercise options early if the action is projected to be beneficial for the customer. An IB FYI also can act to automatically suspend a customer's orders before the announcement of major economic events that influence the market.{{cite news | url=https://www.leaprate.com/news/interactive-brokers-beefs-up-fyi-notifications-feature-in-tws-platform/ | title=Interactive Brokers beefs up FYI notifications feature in TWS platform | first=Maria | last=Nikolova | work=Leap Rate | date=October 8, 2015}}

On April 3, 2014, the company became the first online broker to offer direct access to IEX, a private electronic communication network for trading securities, which was subsequently registered as an exchange.{{cite press release | url=https://www.businesswire.com/news/home/20140403006299/en/Interactive-Brokers-Adds-IEX-Electronic-Trading-Venue | title=Interactive Brokers Adds IEX as an Electronic Trading Venue | publisher=Business Wire | date=April 3, 2014}}

In May 2015, the company acquired investment management platform Covestor.{{cite news| url=https://www.barrons.com/articles/interactive-brokers-offers-new-take-on-robo-advisors-14305379977 | last=Carey | first=Theresa W. |title=Interactive Brokers Offers New Take on Robo Advisors | newspaper=Barron's | date=May 1, 2015}}{{cite press release | url=https://www.prnewswire.com/news-releases/covestor-to-be-acquired-by-interactive-brokers-300071380.html | title=Covestor To Be Acquired by Interactive Brokers | publisher=PR Newswire | date=April 23, 2015}}

In 2015, the company launched Investors' Marketplace, which allows customers to find investors and other service providers in the financial industry.{{cite news |url=https://www.investors.com/news/best-online-brokers/interactive-brokers-aims-to-offer-best-trading-platform/ |last=Carrel |first=Lawrence |title=Interactive Brokers Aims For Best Platform, Lowest Price| work=Investor's Business Daily |date=January 22, 2016}}

In March 2016, the company released a mobile app for the Apple Watch.{{cite news| last=Wells | first=Juana |title=Interactive Brokers Adds Apple Watch Support to IB TWS Mobile Trading App | publisher=SMN Weekly |url=https://smnweekly.com/2016/03/09/interactive-brokers-makes-ib-tws-mobile-app-available-on-apple-watch/ |date=March 9, 2016}}

In October 2017, the company sold its market maker business, Timber Hill, to Two Sigma Investments.{{Cite news | url=https://www.nasdaq.com/articles/interactive-brokers-ibkr-completes-sale-of-timber-hill-2017-10-03 | title=Interactive Brokers (IBKR) Completes Sale of Timber Hill | work=Nasdaq | date=October 3, 2017}}{{cite news |url=https://www.bloomberg.com/news/articles/2017-05-09/two-sigma-to-buy-interactive-brokers-timber-hill-options-unit | last1=Louis | first1=Brian | last2=Kishan | first2=Saijel | title=Two Sigma to Buy Interactive Brokers' Options Trading Unit | work=Bloomberg News | date=May 9, 2017 | url-access=subscription}}{{cite news | url=https://www.wsj.com/articles/two-sigma-agrees-to-buy-interactive-brokers-options-market-making-arm-1494367672 | last1=Banerji | first1=Gunjan | last2=Osipovitch |first2=Alexander | title=Two Sigma Agrees to Buy Interactive Brokers' Options Market-Making Arm | work=The Wall Street Journal | date=May 9, 2017 | url-access=subscription}}

Milan Galik was appointed chief executive officer of the company in 2019, succeeding founder Thomas Peterffy, who remained as chairman.{{Cite web |last=Schott |first=Paul |title=Greenwich-based Interactive Brokers' CEO to step down | url=https://www.greenwichtime.com/business/article/Greenwich-based-Interactive-Brokers-CEO-to-13514044.php | work=Greenwich Time |date=January 1, 2019}}{{Cite press release | url=https://www.businesswire.com/news/home/20190107005620/en/Interactive-Brokers-Group-Will-Appoint-Milan-Galik-as-CEO-Thomas-Peterffy-Founder-Will-Step-Down-in-Third-Quarter-of-2019-and-Remain-as-Chairman-of-the-Board | title=Interactive Brokers Group Will Appoint Milan Galik as CEO; Thomas Peterffy, Founder, Will Step Down in Third Quarter of 2019 and Remain as Chairman of the Board | publisher=Business Wire | date=January 7, 2019}}

In September 2019, the company launched commission-free trades via "IBKR Lite".{{cite press release | url=https://www.businesswire.com/news/home/20190926005753/en/Interactive-Brokers-to-Launch-IBKR-Lite | title=Interactive Brokers to Launch IBKR Lite | publisher=Business Wire | date=September 26, 2019}}{{Cite news | url=https://www.wsj.com/articles/charles-schwab-ending-online-trading-commissions-on-u-s-listed-products-11569935983 | title=Schwab Cuts Fees on Online Stock Trades to Zero, Rattling Rivals | first1=Alexander | last1=Osipovich | first2=Lisa | last2=Beilfuss | work=The Wall Street Journal | date=October 1, 2019 | url-access=subscription}}{{Cite news | url=https://www.wsj.com/articles/there-is-a-commission-free-lunch-11569971438 | title=There Is a Commission-Free Lunch | work=The Wall Street Journal | date=October 1, 2019 | url-access=subscription}}

In November 2019, the company began offering fractional share trading.{{Cite news | url=https://www.cnbc.com/2019/09/26/interactive-brokers-unveils-service-offering-commission-free-trades.html |last=Fitzgerald |first=Maggie |title=TD Ameritrade and other brokerages' shares tank after Interactive Brokers unveils service offering commission-free stock trades |work=CNBC | date=September 26, 2019}}{{Cite news | url=https://www.washingtonpost.com/business/2020/07/10/shares-by-slice-fractional-investing-sparks-stock-market-stampede/ | title=Shares by the slice: Fractional investing sparks a stock market stampede | first=Thomans | last=Heath | newspaper=The Washington Post | date=July 10, 2020 | url-access=subscription | issn=0190-8286}}

In 2020, the customer base grew to one million users.{{Cite news | url=https://bbj.hu/business/tech/fintech/trading-platforms-enjoy-record-growth-of-customers | title=Trading platforms enjoy record growth of customers | work=Budapest Business Journal | date=February 5, 2021}}

In December 2020, the company acquired the retail operations of Folio Investments, including 70,000 accounts, from Goldman Sachs.{{Cite press release | url=https://www.businesswire.com/news/home/20201204005338/en/Interactive-Brokers-Acquiring-Folio-Investments-Retail-Brokerage-Business-from-Goldman-Sachs | title=Interactive Brokers Acquiring Folio Investments Retail Brokerage Business from Goldman Sachs | publisher=Business Wire | date=December 4, 2020}}

In May 2021, the company launched trading in spot gold for U.S. clients.{{Cite press release | url=https://www.businesswire.com/news/home/20210510005516/en/Interactive-Brokers-Launches-US-Spot-Gold-Trading | title=Interactive Brokers Launches US Spot Gold Trading | publisher=Business Wire | date=May 10, 2021}}

In September 2021, the company launched trading in cryptocurrencies, including Bitcoin and Ethereum.{{Cite news |url=https://markets.businessinsider.com/news/currencies/cryptocurrency-trading-interactive-brokers-crypto-bitcoin-ether-retail-investors-2021-9 |title=Interactive Brokers launches cryptocurrency trading for clients |work=Business Insider | first=Emily | last=Graffeo | date=September 13, 2021}}{{cite news |title=Interactive Brokers launches cryptocurrency trading | url=https://www.reuters.com/technology/interactive-brokers-launches-cryptocurrency-trading-2021-09-13/ | first=John | last=McCrank | work=Reuters |date=September 13, 2021}} In May 2024, the platform was expanded to clients in the United Kingdom.{{Cite press release | url=https://www.businesswire.com/news/home/20240508125225/en/Interactive-Brokers-Launches-Cryptocurrency-Trading-for-UK-Clients | title=Interactive Brokers Launches Cryptocurrency Trading for UK Clients | publisher=Business Wire | date=May 15, 2024}}

In July 2023, the company launched trading on the Taiwan Stock Exchange.{{Cite press release | url=https://www.businesswire.com/news/home/20230719046816/en/Interactive-Brokers-Offers-Trading-on-the-Taiwan-Stock-Exchange | title=Interactive Brokers Offers Trading on the Taiwan Stock Exchange | publisher=Business Wire | date=July 19, 2023}}

In August 2023, the company launched fractional share trading in Canadian securities.{{Cite press release | url=https://www.tradersmagazine.com/xtra/interactive-brokers-launches-fractional-shares-trading-in-canada/ | title=Interactive Brokers Launches Fractional Shares Trading in Canada | date=August 3, 2023}}

In August 2024, the company launched trading on Bursa Malaysia.{{Cite news | url=https://www.businesswire.com/news/home/20240827374147/en/Interactive-Brokers-Introduces-Access-to-Stocks-on-Bursa-Malaysia | title=Interactive Brokers Introduces Access to Stocks on Bursa Malaysia | publisher=Business Wire | date=August 27, 2024}}

In late 2024, the company began offering trading in prediction markets including forecast contracts on the 2024 United States presidential election.{{Cite news | url=https://www.bloomberg.com/news/articles/2024-10-03/bets-on-harris-trump-peterffy-s-interactive-brokers-launches-election-wagers | title=Interactive Brokers Gets Into Politics With Yes/No Bets on Races | first=Claire | last=Ballentine | work=Bloomberg News | date=October 3, 2024 | url-access=subscription}}{{Cite press release | url=https://www.businesswire.com/news/home/20241002956164/en/Interactive-Brokers-Introduces-Forecast-Contracts-on-Election-Outcomes | title=Interactive Brokers Introduces Forecast Contracts on Election Outcomes | publisher=Business Wire | date=October 3, 2024}}{{Cite news | url=https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-10-03-2024/card/betting-markets-on-the-presidential-race-set-to-go-live-NnRne85QCyVAnc9nZy8z | title=Betting Markets on the Presidential Race Set to Go Live | first=Alexander | last=Osipovich | work=The Wall Street Journal | date=October 3, 2024 | url-access=subscription}}

In August 2018, the company was fined $5.5 million over allegations that it broke federal rules on naked short selling.{{Cite news | url=https://www.wsj.com/articles/interactive-brokers-fined-5-5-million-for-naked-short-selling-violations-1534797834 | title=Interactive Brokers Fined $5.5 Million for Naked Short Selling Violations | first=Alexander | last=Osipovich | work=The Wall Street Journal | date=August 20, 2018 | url-access=subscription}}

In August 2020, the company was fined $38 million for failing to maintain an adequate anti-money laundering program and alleged compliance lapses, including failure to report suspicious trades.{{Cite news | url=https://www.wsj.com/articles/sec-interactive-brokers-charged-with-failing-to-file-suspicious-activity-reports-11597081197 | title=Interactive Brokers to Pay $38 Million Over Anti-Money Laundering Claims | first=Dylan | last=Tokar | work=The Wall Street Journal | date=August 10, 2020 | url-access=subscription}}

• Automate This: How Algorithms Came to Rule Our World by Christopher Steiner (2012) - The first chapter describes Thomas Peterffy's development of Interactive Brokers and the technologies that have led to the modern automated market.

• Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market by Scott Patterson (2013){{cite book | url=https://books.google.com/books?id=e30bsm0AY20C | last=Patterson | first=Scott | author-link=Scott Patterson (author)|title=Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market |publisher=Crown Business |pages=178–81, 260–61, 292–94, 316 | date=2013 | isbn=978-0-307-88718-4 | oclc=849740364}}

• Financial innovation

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