Interactive Brokers Says Vendor Issue Tangled Trading (4)

Interactive Brokers Group Inc. apologized to clients in a letter Monday evening, after an outage left some users unable to trade for hours while markets were open.

The brokerage said its issues, which drew fury from customers, stemmed from a “high availability” data system provided by another company, which it didn’t name.

“The system was specifically designed to minimize the likelihood of the kind of technology failure that we experienced and it has performed well to date,” said Chief Executive Officer Milan Galik in the message to customers, a copy of which was obtained by Bloomberg News. “Nonetheless, it did ...