Any firms use Interactive Brokers
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I do. I'm very satisfied and they fulfill my requirements very well.
Currently we're two in the firm, but trading is automated so only one concurrent user. Only had one glitch when using their Asia Gateway (was located in China back then), apart from that flawless execution.
Most institutional money requires that you use a broker who has substantial assets that can be used as a cushion. You wouldn't put $1B at a firm with $40M in assets for example. So, while I've seen IB accounts around $50M it's always been a collection of retail investors.
There are only a handful of brokers/clearers that are ever allowed.
Also, the great majority of places, especially really big places, would never write direct to an exchange. Most big business still done over the phone looking at Bloomberg.
It's hard to keep a sense of scale. Like how small GETCO is in terms of assets compared to an average size traditional fund. We tend to see trading as a large world but it is very small compared to the rest of the financial industry.
There are only a handful of brokers/clearers that are ever allowed.
Also, the great majority of places, especially really big places, would never write direct to an exchange. Most big business still done over the phone looking at Bloomberg.
It's hard to keep a sense of scale. Like how small GETCO is in terms of assets compared to an average size traditional fund. We tend to see trading as a large world but it is very small compared to the rest of the financial industry.
I believe Maverick Trading uses IB for Options trading. It's been a while since I heard that, so I might be wrong.