Interactive Brokers

From Infogalactic: the planetary knowledge core
Jump to: navigation, search
Interactive Brokers LLC
Public
Traded as NASDAQ: IBKR
Industry Financial services
Founded 1993; 31 years ago (1993)
Headquarters Greenwich, Connecticut,
United States
Area served
 Worldwide
Key people
 Thomas Peterffy
(Founder, Chairman & CEO)
Products Direct market access to stocks, options, futures, forex, bonds, ETFs and CFDs
Services Online brokerage, direct-access trading
Parent Interactive Brokers Group
Website www.interactivebrokers.com

Interactive Brokers LLC (IB) is a U.S.-based online discount brokerage firm. It is the largest U.S. online brokerage firm by number of daily average revenue trades;[1] it also is the leading forex broker.[2] The company is headquartered in Greenwich, Connecticut and has offices in Chicago, Hong Kong, Shanghai (a representative office), Sydney, and Zug. It is a subsidiary of Interactive Brokers Group, Inc.,[3] which has offices in thirteen countries.

IB is regulated by the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (FINRA), New York Stock Exchange, Financial Conduct Authority and foreign regulatory agencies.[4] The company is a provider of fully disclosed and non-disclosed broker accounts and provides correspondent clearing services to 200 introducing brokers worldwide.[5] It has offered direct market access on Australian contracts for difference since 2008.[6]

History

Interactive Brokers was founded in 1993 by Thomas Peterffy, an early innovator in computer-assisted trading. He introduced electronic devices to options floor trading at the Chicago Board of Trade and went on to develop related trading technologies before entering the online retail brokerage business.[7][8][9]

Litigation and arbitration decisions

In July 2012, Interactive Brokers paid $700,000 to settle charges (by CFTC) that it has "violated reporting rules" and "failed to "diligently" supervise the handling of accounts".[10]

In February 2015, a FINRA arbitration panel ruled that the firm must pay $667,000 for customer losses resulting from the way the firm handled margin calls.[11]

In April 2015, the trading firm was required by an arbitrator to pay $1,200,000 in damages to a customer because the firm failed to stop “reckless trading” by a trust fund overseer which reduced $800,000 to $75,000.[12]

See also

References

  1. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  4. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  6. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ Electronic trading innovator predicts brokerage industry cull Financial Times, 17 May 2016
  9. ↑ Company Overview of Interactive Brokers LLC, Bloomberg.com; retrieved 22 May 2016
  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  12. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links

Media coverage
Retrieved from "https://infogalactic.com/w/index.php?title=Interactive_Brokers&oldid=721542443"