A spike in individual investing this year has buoyed the entire brokerage industry. Retail equity orders accounted for 20% of U.S. stock trading in the past quarter, up more than five percentage points from the prior year. But as much as the boom in stock trading by individuals has been a hallmark of this year, so has service disruptions at the online brokerages. What’s more, customers have also reported hacks into their brokerage accounts.
Interactive Brokers Group Inc. apologized to clients and said it “experienced a significant failure in multiple segments of a highly resilient data storage system.” The company, with more than 1 million customers, said in an emailed statement that its systems had “mostly recovered.” Shares of the Greenwich, Connecticut-based company slid 2.9%.