OptionsXpress Holdings Inc. (OXPS) reported retail-trading
volume rose 8% in April from a year earlier and was up 2% from
March.
The equity options and futures trading company's business gives
a window on the state of individual, or "retail," options traders,
who are thought to account for as much as one-fifth of U.S.
stock-options trading. In March, Charles Schwab Corp. (SCHW) agreed
to buy the company in a $1 billion stock deal. The transaction
comes as derivatives-trading volume has remained strong relative to
stocks.
OptionsXpress said Wednesday its smaller institutional segment
reported daily average revenue trades fell 20% than a year earlier
and 9% from March.
The company added a net 3,300 accounts last month, ending with
329,600, up 9% from a year earlier and 1% from the prior month.
Shares closed Tuesday at $17.57 and were inactive in recent
premarket trading. The Schwab offer valued the company at $17.71 a
share as of the latest close.
-By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240;
matthew.jarzemsky@dowjones.com