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| 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 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.
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.
The Charles Schwab Corporation and optionsXpress Holdings, Inc. announced on March 21, 2011 that Schwab will acquire optionsXpress.
History
- 2000 – optionsXpress founded by Ned Bennett, David Kalt and Jim Gray
- March 2003 – The company creates brokersXpress to serve registered representatives, financial planners and registered investment advisors
- 2004 – Inception of optionsXpress International, which expanded the company's offerings internationally
- 2004 – optionsXpress' services are extended to Australia
- 2005 – optionsXpress goes public with an IPO
- 2005 – The company begins offering its services in Canada
- 2006 – The company expands its offerings to Singapore
- 2006 – The company launches optionsXpress Europe
- January 2007 – optionsXpress acquires Xpresstrade, which increased optionsXpress' offerings to include over 300 futures products worldwide
- October 2007 – David Fisher becomes CEO (previously served as CFO)
- July 2008 – Acquisition of Paragon Futures/Open E Cry
- 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
- July 2009 – Launch of OX Mobile, allowing OX customers to monitor their accounts from their mobile phones
- May 2010 – optionsXpress launches Xtend, a downloadable and customizable platform that offers real-time streaming quotes, charts, and news on users’ desktops
- 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.
- June 10, 2013 U.S. SEC fines optionsXpress, individuals $4.8 mln for naked short sales
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. Top rankings have also been awarded to optionsXpress by Forbes and Kiplinger's.
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.
- ^ 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).
