OptionsXpress Holdings, Inc.

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OptionsXpress
Image:OptionsXpress.gif
Founded 2000
Headquarters Chicago
Key People David Fisher, CEO
Products Online discount brokerage specializing in derivatives trading
Web site www.optionsxpress.com
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OptionsXpress is a Chicago-based online broker that consistently makes the top-five rankings in annual surveys of discount electronic trading platforms for combining technological advancements with user friendliness. OptionsXpress recently added to its futures-trading capabilities with a key discount-brokerage acquisition.

History

OptionsXpress was founded in February 2000 in Chicago and launched its first trading Web site on Nov. 22 of that year.[1] In January 2007, optionsXpress acquired Chicago-based futures and forex broker XpressTrade, which offers 24-hour access top 25 exchanges through a browser-based trading platform.

Today the listed optionsXpress has a market capitalization of $1.4 billion and earnings per share (EPS) of $1.59 on 60.14 million shares outstanding.[2] The brokerage has continued to grow despite its reliance on the choppy retail-investment sector, boosting 2008 Q1 profits 12 percent to $23.8 million ($0.38 per share) and revenues 11 percent to $60.8 million thanks partly to its new XpressTrade futures-trading platform.[3]

In July of 2009, OptionsXpress announced it had launched a new trading tool called IDEAS.[4]

Key People

Other Acquisitions

OptionsXpress Holdings, Inc. signed a definitive agreement to acquire Optionetics, Inc. on April 28, 2009, in an all cash transaction for an initial $20 million. [5]

Earlier, optionsXpress boosted its on-line futures-trading business by nabbing electronic trading platform Open E Cry for $18 million, $13 million in cash, plus unnamed future-performance payments.[6] Open E Cry specializes in serving high-volume online futures traders, a market optionsXpress is seeking to expand into.

References

  1. Frequently Asked Questions. OptionsXpress. Retrieved on July 1, 2008.
  2. optionsXpress Holdings Inc. Reuters. Retrieved on July 1, 2008.
  3. OptionsXpress: No longer in the fast lane but still growing. BloggingStocks.com. Retrieved on July 1, 2008.
  4. OptionsXpress Launches New Trading Tool. Automated Trader. Retrieved on July 23, 2009.
  5. OptionsXpress Announces Acquisition of Optionetics. optionsXpress. Retrieved on April 29, 2009.
  6. optionsXpress buys Open E Cry for $18M. Associated Press. Retrieved on July 2, 2008.
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