Tuesday July 29, 10:34 am ET
New Smart Router Produces Better than 15% Price Improvement in First Month
CHICAGO--(BUSINESS WIRE)--optionsXpress Holdings, Inc. (Nasdaq: OXPS, News) today announced the launch of its new innovative XpressRouterSM. This proprietary smart router was created to manage optionsXpress customer's orders to ensure fast execution at the best available price. In its first month of use, optionsXpress customers already saw more than?15 percent of their eligible option orders?receive price improvement.
"The XpressRouterSM was designed and created in-house at optionsXpress," stated Peter Bottini, Executive Vice President of Trading and Customer Service."We looked at all the available third-party routers used by our competition and determined that we could develop a superior product internally."
The XpressRouterSM simultaneously monitors quotes from all U.S. option exchanges as well as querying alternate liquidity sources to find the best prices for?our retail customer's market and marketable limit orders. The XpressRouterSM also facilitates moving orders from an exchange that experiences an outage to keep orders in the marketplace.
"With the introduction of our new proprietary XpressRouterSM, we're offering our customers a better investing experience and saving them money when their orders are price improved," stated David Fisher, Chief Executive Officer, optionsXpress Holdings, Inc. "This marks the latest in a series of updates to our award-winning brokerage platform. It also underscores optionsXpress' commitment to enhancing the trading experience of our more than 290,000 customers through consistent company-championed innovation and technology."
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, and brokersXpress, LLC, an online trading and reporting platform for independent investment professionals. Barron's named optionsXpress the number one online broker for four years in a row (2003 to 2006) and Kiplinger's Personal Finance named it the top discount broker in 2006. Price improvement statistics have been audited by an independent third-party and considered marketable, non-spread, retail orders for 50 lots or less.
For Further Information, Contact:
RedChip Companies, Inc.
500 Winderley Place, Suite 100
Orlando, FL 32751
(800) 733-2447
Fax: (407) 644-0758
info@redchip.com
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