Interactive Brokers Founder Says Legalizing Insider Trading Would Make Markets More Fair
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Thomas Peterffy, founder of Interactive Brokers Group, argues that legalizing insider trading would make markets more fair by reducing the advantage of well-connected players. He believes that faster information dissemination would compress the exploitation window, making markets clear more honestly.
Thomas Peterffy, founder of Interactive Brokers Group, has made a case for legalizing insider trading. He argues that insider information eventually filters out, making enforcement difficult. Peterffy believes that legalizing insider trading would reduce the advantage of well-connected players. He thinks that faster information dissemination would compress the exploitation window. Peterffy's argument is based on his experience of losing $90,000 to insider trading in 1977. He built one of the most efficient electronic trading platforms in the world, with a business model premised on speed and automation.
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