Scottrade to Launch an Options Trading Platform Designed by OptionsHouse
CHICAGO, March 17, 2008 — OptionsHouse, Inc. ("OptionsHouse"), an online retail and institutional brokerage firm, announced today that Scottrade, a leading online branch-supported investment firm, is launching a new options trading platform powered by OptionsHouse, called Scottrade OptionsFirst.
"OptionsHouse is thrilled that Scottrade selected our firm to design an advanced options-trading platform for its customers," said John Hass, chief executive officer of OptionsHouse. "Scottrade's decision to work with us is a testament to the strength of our technology and approach, which provides an easy-to-use yet powerful trading platform."
Scottrade, through OptionsFirst, will be able to provide its options-trading customers with a site designed for speed and functionality utilizing point-and-click technology.
Through the platform, Scottrade will be able to provide tools such as the Risk Viewer, where Scottrade investors will be able to estimate their risk, on a position-by-position basis, or portfolio wide. Furthermore, OptionsFirst will offer a "Virtual Trading" tool, where investors can learn about options trading or test options trading strategies.
"A growing number of our customers are trading options and require a platform that is as savvy as they are," said Steve Walkenbach, executive director of business and product development at the St. Louis, Mo.-based Scottrade. "We were drawn to OptionsHouse because their comprehensive options-trading platform will help our customers make faster, better trading decisions."
Press Contact
OptionsHouse, LLC
Beth Gaston Moon
312-676-8800
bmoon@peak6.com
About OptionsHouse:
OptionsHouse, LLC, is an online stock and option broker delivering a fast, streamlined trading experience on its professional-grade trading platform, accessible at OptionsHouse.com. OptionsHouse's flat-rate commission structure offers online trading of $9.95 per option trade and $4.95 per stock trade, with no escalating fees, regardless of size.*
In Barron's 2008 survey of Online Brokers, OptionsHouse earned a four-star rating and its innovative platform was ranked number-one for "usability."1 A licensed FINRA broker-dealer, OptionsHouse, LLC was founded in 2005 and is a subsidiary of proprietary option-trading firm, PEAK6 Investments, L.P.
About PEAK6:
Established in 1997, PEAK6 Investments, L.P. ("PEAK6") is a leading financial institution in Chicago with an established track record of success in proprietary trading. PEAK6 is also rapidly expanding its commercial focus to include innovative initiatives in asset management and online media.
About Scottrade
Scottrade is a leader in online investing, serving individual investors who are comfortable making their own investment decisions. Scottrade is unique in the industry because it boasts low commission rates while offering the largest branch network among online brokerages, with 344 local branch offices nationwide. In October 2007, Scottrade was named Highest in Investor Satisfaction by J.D. Power and Associates for the seventh time. Scottrade.com is the online trading site of Scottrade, Inc. In addition to its online capabilities, Scottrade staffs each easily accessible branch location with a branch manager plus additional brokers and assistants. In January 2008, Scottrade was named one of FORTUNE magazine's "100 Best Companies to Work For" in America for the first time. For more, visit www.scottrade.com or www.scottrade.com/careers.