Lessons from a Market-Making Kingpin
Thomas Peterffy, the billionaire founder of Interactive Brokers, joins Real Vision to discuss how his company revolutionized the market-making industry and ultimately became the largest electronic brokerage in America. He describes how Interactive Brokers rendered traditional open-outcry exchanges obsolete, whose remarkable inefficiency he saw as a tremendous opportunity. Peterffy argues that high-frequency trading poses black-swan risks to markets worldwide, and proposes several solutions to mitigate those risks. Filmed on January 23, 2020, in West Palm Beach, Florida.