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New proprietary routing technology often provides significant advantage over NBBO
CHICAGO--(BUSINESS WIRE)--optionsXpress Holdings, Inc. (Nasdaq: OXPS - News) today announced that its proprietary XpressRouter(R) Technology, which routes every customer trade through multiple channels, has saved its customers over $7 million in the last 12 months.*
“Other discount online brokers sometimes offer rock-bottom per-trade rates but then fail to maximize investor value by getting less than optimal execution, and this can adversely impact a customer’s return,” said Pete Bottini, Executive Vice President of Trading at optionsXpress. “Our XpressRouter, combined with our talented execution team at optionsXpress, deliver industry-leading trade execution which often results in significant direct savings to optionsXpress customers while offering competitive commission rates. In fact our XpressRouter has generated over $7 million in direct savings to our customers.”*
XpressRouter aims to seek out the best possible price for each order by seeking liquidity through multiple channels – exchanges and market makers. In many cases XpressRouter has identified opportunities to buy and sell at a significant advantage over the current NBBO (National Best Bid and Offer), which may provide optionsXpress customers with an edge over traders on other platforms. XpressRouter, through which every eligible trade at optionsXpress is routed, is one of the many benefits to trading stocks, options, futures, ETFs, bonds and mutual funds on optionsXpress’ award-winning trading platform.**
“Our passion and driving goal is to provide our customers with unmatched access to the market,” said David Fisher, Chief Executive Officer of optionsXpress. “XpressRouter gives them that edge, allowing them to buy lower, sell higher and maximize returns.”
About optionsXpress Holdings, Inc.
optionsXpress Holdings, Inc., a pioneer in equity options and futures trading, offers an innovative suite of online brokerage services for investor education, strategy evaluation and trade execution. optionsXpress Holdings subsidiaries include optionsXpress, Inc., a retail online brokerage specializing in options and futures, brokersXpress, LLC, an online trading and reporting platform for independent investment professionals, Open E Cry, LLC, an innovative futures broker offering direct access futures trading for high volume commodities and futures traders through its proprietary software platform, and Optionetics, Inc, a leading provider of investment education services, including live seminars, proprietary software analytics, online and offline educational products and individual coaching.
*Based on third party analysis of price improvement for single-legged option orders provided by S3 from September 1, 2008 to August 31, 2009.
**"Best Online Broker" 3/6/06, 3/7/05, 3/8/04, 3/10/03, and one of Barron's Best Online Brokers 3/3/07 and 3/16/09 based on: Trade Experience; Trade Tech; Usability; Offerings; Research; Portfolio Analysis; Customer Service/Access; Costs. Barron's is a registered trademark of Dow Jones & Company (C) 2009.
Online trading has inherent risk due to system response and access times that may vary due to market conditions, system performance, volume and other factors. An investor should understand these and additional risks before trading. optionsXpress, Inc. makes no investment recommendations and does not provide financial, tax or legal advice. Content and tools are provided for educational and informational purposes only. Products and services intended for U.S. customers and may not be available or offered in other jurisdictions.
Copyright © 2009 optionsXpress, Inc. All rights reserved. Member FINRA, SIPC, CBOE, ISE, BOX, ArcaEx, PHLX and NFA.
Media Contact:
FD
Patrick Van De Wille
patrick.vandewille@fd.com
+1 (312) 553-6704
or
Investor Contact:
FD
Jim Polson
jim.polson@fd.com
+1 (312) 553-6730
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