Interactive Brokers hit by "significant failure" on system

Clients of electronic trading major Interactive Brokers (IB) have had difficulties trading yesterday due to tech issues.

IB confirmed the problems on Twitter but traders complained that the servers had been down for hours prior to the first tweet regarding the problems.

About an hour later, Interactive Brokers posted the following message on its website and Twitter feed: "Early this morning, we experienced a significant failure in multiple segments of a highly resilient data storage system. We engaged the vendor for analysis and recovery. We have mostly recovered and are addressing a few residual issues. We recognize the dislocation this has caused to our clients, and express our apologies".

One hour after this message, the broker said that it had mostly recovered and was addressing a few residual issues. That statement, however, was met with skepticism by apparently irritated traders, with some saying that the issues persisted.