OptionsXpress Holdings, Inc.
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| OptionsXpress | |
| |
| Founded | 2000 |
|---|---|
| Headquarters | Chicago |
| Key People | David Fisher, CEO |
| Products | Online discount brokerage specializing in derivatives trading |
| Website | www.optionsxpress.com |
OptionsXpress is a Chicago-based online broker that was acquired by Charles Schwab in 2011. OptionsXpress acquired Optionetics, Inc. in July of 2008.
History[edit]
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.
- In 2008, the listed optionsXpress had a market capitalization of $1.4 billion and earnings per share (EPS) of $1.59 on 60.14 million shares outstanding.[2] The brokerage 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 2008, 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.[4] Open E Cry specializes in serving high-volume online futures traders, a market optionsXpress is seeking to expand into.
- On April 28, 2009, OptionsXpress Holdings, Inc. signed a definitive agreement to acquire Optionetics, Inc. in an all cash transaction for an initial $20 million. [5]
- In March 2011, Charles Schwab announced it was acquiring OptionsXpress for $1 billion in a move to capitalize on the growing options trading sector. The deal was valued at $17.91 a share. After the announcement, OptionsXpress shares jumped 15 percent to $17.68 in morning trading but Schwab shares slipped 13 percent to $17.43. [7]
- In April of 2012, the SEC charged the firm in an alleged naked short selling scheme. It also accused the company, along with its former chief financial officer Thomas E. Stern and an affiliated dealer, of violating registration requirements in order to avoid an audit. [8]
Key People[edit]
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Products and Services[edit]
OptionsXpress provides retail investors trading tools and education for the stock, options and futures markets.
References[edit]
- ↑ Frequently Asked Questions. OptionsXpress.
- ↑ optionsXpress Holdings Inc. Reuters.
- ↑ OptionsXpress: No longer in the fast lane but still growing. BloggingStocks.com.
- ↑ optionsXpress buys Open E Cry for $18M. Associated Press.
- ↑ OptionsXpress Announces Acquisition of Optionetics. optionsXpress.
- ↑ OptionsXpress Launches New Trading Tool. Automated Trader.
- ↑ Charles Schwab buys OptionsXpress for 1b. Chicago Sun Times.
- ↑ SEC Accuses OptionsXpress of Violating Registration Requirements. Bloomberg.