OptionsHouse and tradeMONSTER to Combine to Form Leading Online Brokerage Firm
OptionsHouse is pleased to announce it plans to combine with tradeMONSTER to create a leading online brokerage firm. Click here for press release.
By joining forces, we’ll bring together the best of both companies. As a result, we believe 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.
We know you may have questions about this transaction and what it means for your trading experience. Below are some FAQs that we believe will address your questions and explain how this transaction benefits our customers and strengthens our ability to continually improve your trading experience.
Frequently Asked Questions
Why are you combining with tradeMONSTER?
Like OptionsHouse, tradeMONSTER is a best-of-breed online brokerage focused on serving active traders and investors. By joining forces, we’ll bring together the best of both companies to provide our combined customers with the products, features and competitive edge they seek. We’ll be uniquely positioned to provide active traders and investors with innovative tools and fast, reliable execution, delivered seamlessly across desktop and mobile devices. Our focus on providing superior value at competitive prices will remain a hallmark of the new company.
What are the benefits to customers?
By joining forces, we’ll bring together the best of both companies. By combining our two dynamic companies, we’ll be able to draw on even greater resources to bring you the most innovative tools, fast and reliable execution, and superior value across desktop and mobile devices. In addition, our focus on providing superior value at competitive prices will remain a hallmark of the new company.
Can you tell me more about tradeMONSTER?
tradeMONSTER was founded in 2005 and launched its trading platform in 2008. The company specializes in delivering trading tools, educational content, and news & data services for the self-directed retail investor. tradeMONSTER has been ranked “Best for Options Traders” by Barron’s since 2009.
What does this mean for me? How will this impact my account?
For now, it is business as usual. We’ll continue to provide the high quality, dynamic trading experience and world-class customer service that you’ve come to expect of OptionsHouse.
Future changes that are made will be focused on enhancing your overall trading experience, and will be communicated well in advance.
How will this impact my current pricing plans/levels?
Our focus on providing superior value at competitive prices will remain a hallmark of the new company. To underscore that commitment, existing rates will remain in effect and won’t change for all OptionsHouse customers who have funded accounts as of Tuesday, May 27, 2014
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 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 our combined customers’ overall trading experience.
What does this mean if I’m not a current customer and considering opening an account at OptionsHouse? Should I open an account now?
Now is a great time to open your account and start trading on the OptionsHouse platform. There will be no immediate changes to how we operate or the offering that was described to you. You can still continue to enjoy all the benefits of OptionsHouse — speed, control, execution, and of course our low rates — and down the road we expect there will be additional enhancements.
I currently have an existing funded account and was planning on adding another account. Would the second account qualify for existing OptionsHouse rates?
Yes. As long as you have a funded account as of Tuesday, May 27, 2014, any subsequent accounts you open would also leverage your existing OptionsHouse rates and wouldn’t change.
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 house will the new company 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?
No immediate decisions have been made regarding platform or technology. These decisions will be carefully considered. Any future changes that are made will be communicated well in advance, and primarily focused on enhancing our combined customers’ overall trading experience. In the meantime, we’ll continue to deliver the same best-in-class service, experience and value that customers have come to expect.
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. Both companies will continue to operate independently, as two separate companies, until the deal closes in Q3.
What’s the timing of close?
The transaction is expected to close in Q3, pending regulatory approval.
What will the combined company be called?
No decisions have been made regarding branding. This decision will be carefully considered and any changes will be communicated well in advance.
When can we expect to hear additional information on what this means for us?
The transaction is expected to close in Q3, and until then the companies will continue to operate independently. We’ll communicate other relevant information as soon as it becomes available.