OptionsXpress
 | |
| Company type | 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
- ^ Profile at Yahoo! Finance.
- ^ [1] SEC. Filed 2010-03-01.
- ^ [2] Press Release
- ^ [3] FINRA. Retrieved 2010-12-10.
- ^ [4] brokersXpress.com. Retrieved 2010-10-10.
- ^ a b c d e [5] SEC. Filed 2009-03-02.
- ^ [6] moneycentral.hoovers.com. Retrieved 2010-12-10.
- ^ [7] reuters.com. Dated 2007-01-24.
- ^ [8] forbes.com. Retrieved 2010-12-10.
- ^ [9] secwatch.com. Filed 2008-08-11.
- ^ [10] insideview.com. Retrieved 2010-12-10.
- ^ [11] highbeam.com. Dated 2009-07-12.
- ^ [12] thestreet.com. Dated 2010-05-03.
- ^ "Charles Schwab buys OptionsXpress for $1B". Associated Press. March 21, 2011.
- ^ U.S. SEC fines optionsXpress, individuals $4.8 mln for naked short sales | Reuters
- ^ "2011 Online Broker Review", January 18, 2011.
- ^ "2012 Online Broker Review", February 21, 2012.
- ^ "2013 Online Broker Review", February 19, 2013.
- ^ "2014 Online Broker Review", February 18, 2014.
- ^ a b c d e f [13] optionsxpress.com. Retrieved 2010-12-10.
- ^ [14] optionsxpress.com. Retrieved 2011-3-25.
- ^ [15] optionsxpress.com. Retrieved 2011-3-25.
