OptionsHouse Reduces Stock Commission 50% to a Flat Rate of $4.95
- Builds Upon Industry-Defining, Flat-Rate $9.95 Options Commission, Regardless of Trade Size
- Also Offers 50 Free Trades to Customers of optionsXpress and Other Brokerages
CHICAGO, Oct. 16, 2007 - OptionsHouse, Inc. ("OptionsHouse"), an online retail and institutional brokerage firm, today introduces its new $4.95 flat-rate commission on all stock trades, regardless of size. OptionsHouse had previously charged $9.95 per stock trade.
"OptionsHouse redefined retail options trading by offering a true flat rate of $9.95 per option trade, regardless of the size of the trade," said OptionsHouse Chief Executive Officer, John Hass. Escalating commission structures and pricing based on the number of times a customer trades remain standard in the industry among OptionsHouse competitors.
"We've had such positive feedback on our flat-rate options commission that we are continuing to innovate by introducing a new $4.95 flat-rate stock commission regardless of size," Hass said. "This is also an opportunity for us to deliver even greater value to our customers, given our declining execution costs."
"And we will not stop there, " Hass added. "We will continue to offer attractive margin rates and no hidden fees."
OptionsHouse Also Offers Free Trades to Customers of optionsXpress and Other Competing Brokerages
Also new, OptionsHouse is offering customers of optionsXpress and other competing brokerage firms 50 free trades if they open an account with OptionsHouse by the end of the year.
"Our competitor, optionsXpress helped to establish retail online options trading in the first part of this decade. It is our goal, however, to set the standard in the future," said Hass. "Our low flat rates, especially when compared to competitors' higher and escalating options commissions, together with our uniquely easy-to-use yet powerful online site, provides traders with an innovative and exceptional trading platform with low execution costs, making it arguably the best choice in the industry."
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."** 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.