OptionsXpress

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optionsXpress Holdings Inc.
Type Subsidiary
Industry Financial Services/Brokerages
Headquarters Chicago, IL, USA
Key people Joe Vietri, CEO
Barry Metzger, CCO
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[edit]

• 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[edit]

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 of 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 of 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 of 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 of 2011, based on tools/platform quality, quantity/quality of education, execution quality, commissions, and order routing[22]

See also[edit]

References[edit]

  1. ^ Profile at Yahoo! Finance.
  2. ^ [1] SEC. Filed 2010-03-01.
  3. ^ [2] Press Release
  4. ^ [3] FINRA. Retrieved 2010-12-10.
  5. ^ [4] brokersXpress.com. Retrieved 2010-10-10.
  6. ^ a b c d e [5] SEC. Filed 2009-03-02.
  7. ^ [6] moneycentral.hoovers.com. Retrieved 2010-12-10.
  8. ^ [7] reuters.com. Dated 2007-01-24.
  9. ^ [8] forbes.com. Retrieved 2010-12-10.
  10. ^ [9] secwatch.com. Filed 2008-08-11.
  11. ^ [10] insideview.com. Retrieved 2010-12-10.
  12. ^ [11] highbeam.com. Dated 2009-07-12.
  13. ^ [12] 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. ^ a b c d e f [13] optionsxpress.com. Retrieved 2010-12-10.
  21. ^ [14] optionsxpress.com. Retrieved 2011-3-25.
  22. ^ [15] optionsxpress.com. Retrieved 2011-3-25.

External links[edit]