OptionsHouse and tradeMONSTER to Combine to Form Leading Online Brokerage Firm
On September 2, 2014, OptionsHouse completed the transaction that brings the company one step closer to joining forces with tradeMONSTER to create a leading online brokerage. In the near-term, both firms will operate as they have been, with their same unique brands, trading platforms, customer service channels, terms and conditions. OptionsHouse and tradeMONSTER customers will not experience any immediate changes to their trading experience.
In the future, the new company will take the best product features and customer service attributes of both firms to create the best trading experience for customers under a new brand identity.
As a result, we’ll be uniquely positioned to provide active traders with a competitive edge in the market. We’ll develop innovative tools and provide fast, reliable execution, seamlessly delivered across desktop and mobile devices. And our focus on providing superior value at competitive prices will remain a hallmark of the new company. Click here for press release.
Below are some FAQs that explain how this merger benefits our customers and strengthens our ability to continually improve your trading experience.
Frequently Asked Questions
How will customers benefit from the combination?
By joining forces, we are bringing together the best of both companies. Combining our two dynamic companies means we can draw on even greater resources to bring you the most innovative tools, fast and reliable execution, and superior value across desktop and mobile devices—and strengthen your trading with the market leading platform in the online brokerage industry. In addition, our focus on providing superior value at competitive prices will remain a hallmark of the new company.
What does this mean for me? How will this impact my account?
For now, it is business as usual. You will not experience any immediate changes to your trading experience. We’ll continue to provide the high quality, dynamic trading experience and world-class customer service that you’ve come to expect of OptionsHouse under the OptionsHouse brand.
In the future, the new company will take the best product features and customer service attributes of both firms to create the best trading experience for customers under a new brand identity. Please know all these changes will be communicated to you in detail prior to any transition and we will have reps on call to walk you through any new features.
Will my current pricing plans/levels change?
Our focus on providing superior value at competitive prices remains a hallmark of the new company. To underscore that commitment, existing rates remain in effect for now.
What will happen to my trade data, tax information, cost basis, 1099’s etc?
It is business as usual. All of this information will continue to be delivered to you on the OptionsHouse platform in the same manner as always. Any future changes that are made will be communicated well in advance, and will be focused on enhancing the overall trading experience.
What will happen with the free trades in my account?
The existing terms and conditions associated with your free trades are still valid.
What clearing firm will NewCo use?
Both OptionsHouse and tradeMONSTER will continue clearing through Apex. The plan is for the new company to also clear through Apex.
Whose technology platform will you use going forward? When will the transition occur?
For now, there is no change to the trading platform. Over time, in a deliberate, seamless manner any changes will be communicated to you.
Who do I contact for questions regarding my OptionsHouse account moving forward?
You should continue to contact OptionsHouse customer service with questions or account needs.
When will you introduce your new brand identity?
We are still going through the creative process and working out these details but will communicate the brand identity and evolution in the future. We are very excited about how this process is progressing.