OptionsXpress

optionsXpress Holdings Inc.
Subsidiary
Industry Financial Services/Brokerages
Founded Chicago, IL (2000)
Headquarters Chicago, IL, USA
Key people
 Joe Vietri, CEO
Barry Metzger, CCO
Number of employees
 423 (December 2009)
Parent Charles Schwab Corporation
Website www.optionsxpress.com

optionsXpress Holdings, Inc. is a retail, online brokerage firm, headquartered in Chicago, Illinois, that provides brokerage services for options, stocks, futures, mutual funds, and fixed income investments in the United States and internationally. Its browser-based technology provides trading tools, enabling investors to identify, analyze, and execute a range of investment strategies.[1]

Virtual Trade, optionsXpress' virtual trading platform, gives customers the ability to test trading strategies and ideas under real market conditions, without putting real money on the line.[2]

The Charles Schwab Corporation and optionsXpress Holdings, Inc. announced on March 21, 2011 that Schwab will acquire optionsXpress.[3]

History

• 2000 – optionsXpress founded by Ned Bennett, David Kalt and Jim Gray[4]

• March 2003 – The company creates brokersXpress to serve registered representatives, financial planners and registered investment advisors[5]

• 2004 – Inception of optionsXpress International, which expanded the company's offerings internationally[6]

• 2004 – optionsXpress' services are extended to Australia[6]

• 2005 – optionsXpress goes public with an IPO[7]

• 2005 – The company begins offering its services in Canada[6]

• 2006 – The company expands its offerings to Singapore[6]

• 2006 – The company launches optionsXpress Europe[6]

• January 2007 – optionsXpress acquires Xpresstrade, which increased optionsXpress' offerings to include over 300 futures products worldwide[8]

• October 2007 – David Fisher becomes CEO (previously served as CFO)[9]

• July 2008 – Acquisition of Paragon Futures/Open E Cry[10]

• May 2009 – Acquisition Lanai Partners, LLC/Optionetics, Inc. This acquisition widened the breadth of optionsXpress' educational offerings, which now include workshops, classes (live and online), newsletters, DVDs and strategy support[11]

• July 2009 – Launch of OX Mobile, allowing OX customers to monitor their accounts from their mobile phones[12]

• May 2010 – optionsXpress launches Xtend, a downloadable and customizable platform that offers real-time streaming quotes, charts, and news on users’ desktops[13]

• March 21, 2011 — Charles Schwab Corporation (SCHW.N) announced a buyout of optionsXpress Holdings Inc (OXPS.O) in a $1 billion deal, valuing optionsXpress at $17.91/share.[14]

• June 10, 2013 U.S. SEC fines optionsXpress, individuals $4.8 mln for naked short sales [15]

Industry Awards and rankings

optionsXpress earned four stars and finished fifth overall in the StockBrokers.com 2011 Online Broker Review.[16] In 2012, they earned five stars and a third place finish, moving up two positions.[17] For 2013, optionsXpress moved down, earning three and a half stars, a seventh place finish; however, they were awarded Best Trade Ticket and Best New Tool for their "Walk Limit" order type.[18] In 2014, optionsXpress shifted back down again to a ninth place with an improved four star rating and were awarded #1 Trade Ticket for the second year running.[19]

Barron's rated optionsXpress their first-ever 4 ½ stars in March, 2003.[20] From 2004-2006, Barron's rated optionsXpress "Best Online Broker" for three years in a row.[20] A few years later in March 2009, they are Rated "Best Online Broker for Usability" (4 stars) by Barron's.[20] Barron's rated optionsXpress 4 stars in March, 2010 based on Usability, Trade Experience, Trading Technology, Range of Offerings, Research Amenities, Portfolio Analysis & Report, Customer Service & Access, and Costs.[20] March 2011 Barron's rated optionsXpress 4 stars based on Usability, Trade Experience, Trading Technology, Range of Offerings, Research Amenities, Portfolio Analysis & Report, Customer Service & Access, and Costs making it ten years in a row that the company is recognized for its excellence in the online brokerage industry[21]

Smart Money named optionsXpress the "Best Discount Broker" in August 2004.[20] In May, 2009 they are rated 5 stars (highest) for Trading Tools by Smart Money.[20]

Considered the "2010 Broker of the Year" by The Options Insider in January 2011, based on tools/platform quality, quantity/quality of education, execution quality, commissions, and order routing[22]

See also

References

  1. ↑ Profile at Yahoo! Finance.
  2. ↑ SEC. Filed 2010-03-01.
  3. ↑ Press Release
  4. ↑ FINRA. Retrieved 2010-12-10.
  5. ↑ brokersXpress.com. Retrieved 2010-10-10.
  6. ↑ 6.0 6.1 6.2 6.3 6.4 SEC. Filed 2009-03-02.
  7. ↑ moneycentral.hoovers.com. Retrieved 2010-12-10.
  8. ↑ reuters.com. Dated 2007-01-24.
  9. ↑ forbes.com. Retrieved 2010-12-10.
  10. ↑ secwatch.com. Filed 2008-08-11.
  11. ↑ insideview.com. Retrieved 2010-12-10.
  12. ↑ highbeam.com. Dated 2009-07-12.
  13. ↑ thestreet.com. Dated 2010-05-03.
  14. ↑ "Charles Schwab buys OptionsXpress for $1B". Associated Press. March 21, 2011.
  15. ↑ U.S. SEC fines optionsXpress, individuals $4.8 mln for naked short sales | Reuters
  16. ↑ "2011 Online Broker Review", January 18, 2011.
  17. ↑ "2012 Online Broker Review", February 21, 2012.
  18. ↑ "2013 Online Broker Review", February 19, 2013.
  19. ↑ "2014 Online Broker Review", February 18, 2014.
  20. ↑ 20.0 20.1 20.2 20.3 20.4 20.5 optionsxpress.com. Retrieved 2010-12-10.
  21. ↑ optionsxpress.com. Retrieved 2011-3-25.
  22. ↑ optionsxpress.com. Retrieved 2011-3-25.

External links