Interactive Brokers CEO, insiders on strategy, zero commissions - Business Insider

and job losses; some registered investment advisers, especially small ones, bristled at the thought of being forced to change custodians.worlds were upended in less than two months' time after Interactive Brokers sparked the rapid-fire, industry-wide domino effect.

On the firm's second-quarter earnings call last July, Peterffy had a colorful exchange an analyst around the simulated sports-betting game it recently announced. It was intended to attract new customers who may not have been familiar with the financial markets, but were "more familiar with the probabilities of spectator sports," the company said.

Customers' changing tastes and standards for what they'll pay for are quickly raising the bar, and that's leftMeanwhile, Interactive Brokers and its competitors are under pressure to keep costs low, especially against ultra-low US interest rates that have already eaten into their their bottom lines.investor presentation earlier this month

He took a liking to pricing options, and learned about the market. Peterffy, then in his early 20s, bought a seat on the American Stock Exchange, which is now owned by Intercontinental Exchange. The predecessor to Interactive Brokers, Timber Hill, was formed. sold its US options market-making business"I started it with my savings," Peterffy said. "I grew it into a huge enterprise, and it's the only thing I know. It's what I've done all my life.

But Peterffy, who remains the chairman, is still very much the face of the company. The firm did not make Galik available for an interview for this article, and he was not on the fourth-quarter earnings call held last month.

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