Two Sigma Securities Buys Interactive Brokers' Options Trading Unit

Two Sigma Securities agreed to buy Interactive Brokers Group Inc.’s options market-making business, acquiring a pioneer of electronic trading to break into derivatives trading. Terms of the deal for Timber Hill weren’t disclosed. Interactive Brokers Chairman and Chief Executive Officer Thomas Peterffy founded Timber Hill in 1982.  The business was once the world’s largest options market maker. Though Timber Hill has shrunk, the deal helps get Two Sigma Securities into options trading after it’s spent several years assembling the pieces, including the acquisition of technology from KCG Holdings Inc.’s options business in 2016.