OptionsXpress Holdings, Inc.

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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.


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 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 July of 2009, OptionsXpress announced it had launched a new trading tool called IDEAS.[6]
  • 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]

Dashonly.gif David Fisher CEO
Dashonly.gif Ned W. Bennett Executive Vice Chairman
Dashonly.gif Adam DeWitt CFO
Peter Bottini.jpg Peter Bottini Executive Vice President Trading and Customer Service
Dashonly.gif Kirk Chartier Chief Marketing Officer
Dashonly.gif Thomas E. Stern Chief Administrative Officer

Products and Services[edit]

OptionsXpress provides retail investors trading tools and education for the stock, options and futures markets.