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Interactive Brokers Group, Inc. (IBKR) Goldman Sachs 2025 U.S. Financial Services Conference December 10, 2025 10:40 AM EST
Company Participants
Thomas Peterffy – Founder & Chairman
Presentation
Unknown Analyst
Okay. Let’s get started here. So we are extremely pleased to have Thomas Peterffy, Founder and Chairman of Interactive Brokers, join us again for a fireside chat. Thomas founded Interactive Brokers 48 years ago. He was instrumental in the creation of electronic market making, then in the evolution of retail brokerage and now innovating in areas, including some very novel products like prediction markets. Interactive Brokers remains a uniquely growing brokerage firm, servicing retail and institutional clients across nearly all products and offering a unique tech-enabled platform. Thank you so much for joining us, Thomas.
Question-and-Answer Session
Unknown Analyst
Okay. So Thomas, you’ve seen many cycles over the past 48 years of building Interactive Brokers. What are you seeing from the market today on where we are in the economic cycle and also in terms of risk appetite from your clients?
Thomas Peterffy
Founder & Chairman
So unlike David Kostin, it is not my job to have to figure out which way the market is going to go. But I do admit that I do sometimes do trades for myself, and you will be surprised to hear that my brokerage account is with Interactive Brokers. And the reason for that is that they are the only ones where I can get in and out of large positions relatively unnoticeably without being front run because they have — what do you call this, Argo — Argo orders called accumulate, distribute where you can get into a large position without being detected and you can get rid of it without being detected. And you can do so over several hours or days or months automatically by saying that you’re going to buy, say, 500,000
