It operates the largest electronic trading platform forex broker di inc the U. The company is headquartered in Greenwich, Connecticut and has offices in four cities. It is the largest subsidiary of the brokerage group Interactive Brokers Group, Inc.
CEO and Chairman Thomas Peterffy, an early innovator in computer-assisted trading. The original organization was first created as a market maker in 1977 under the name T. It became the first to use fair value pricing sheets on an exchange trading floor in 1979, and the first to use handheld computers for trading, in 1983. The following year, he formed his first company, named T. Hutchin Hill Road in Woodstock, New York. 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. 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. In November 1983 he convinced the exchange to allow computer use on the floor. At the time, brokers still used fair value pricing sheets, which were by then updated once or twice a day.