OptionsXpress
 | |
| 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 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 has received numerous top rankings by personal finance publications, including the top-star ranking in the annual Barron's Magazine online broker review for five years in a row.[16] Top rankings have also been awarded to optionsXpress by Forbes[17] and Kiplinger's.[18]
See also
References
- ↑ Profile at Yahoo! Finance.
- ↑ SEC. Filed 2010-03-01.
- ↑ Press Release
- ↑ FINRA. Retrieved 2010-12-10.
- ↑ brokersXpress.com. Retrieved 2010-10-10.
- 1 2 3 4 5 SEC. Filed 2009-03-02.
- ↑ moneycentral.hoovers.com. Retrieved 2010-12-10.
- ↑ reuters.com. Dated 2007-01-24.
- ↑ forbes.com. Retrieved 2010-12-10.
- ↑ secwatch.com. Filed 2008-08-11.
- ↑ insideview.com. Retrieved 2010-12-10.
- ↑ highbeam.com. Dated 2009-07-12.
- ↑ 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
- ↑ Different strokes for . . ., Features, Barron's Online, Dow Jones WebReprint Service (March 6, 2006).
- ↑ OptionsXpress, Website Reviews, Best of the Web, Forbes.com (2007).
- ↑ The Best Online Broker: a relatively new player sweeps our rankings, by Steven Goldberg and Jessica Anderson, Trading, Kiplinger.com (July 2006).