DOW JONES NEWSWIRES
OptionsXpress Holdings Inc. (OXPS) reported retail-trading
volume fell 12% in May from a year earlier and was down 10% from
April.
The equity options and futures trading company's business is
closely watched as a barometer on the state of individual, or
"retail," options traders, who are estimated to account for as much
as one-fifth of U.S. stock-options trading.
OptionsXpress said Wednesday its smaller institutional segment
reported daily average revenue trades fell 13% from a year earlier,
but jumped 31% from April.
The company added a net 2,300 accounts last month, to end the
period with 394,900 customers, up 9% from a year ago and 1% from
April.
In March, Charles Schwab Corp. (SCHW) agreed to buy the company
in a $1 billion stock deal, a transaction it sought as
derivatives-trading volume has remained strong relative to
stocks.
Shares of OptionsXpress closed Tuesday at $16.54 and were
inactive in recent premarket trading.
-By Mia Lamar, Dow Jones Newswires; 212-416-3207;
mia.lamar@dowjones.com