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New XpressRouter

by Marketing on August 18, 2008 3:57 PM

Over 15% of optionsXpress contracts in May received price improvement* thanks to XpressRouter. This proprietary smart router was created to manage customer orders to help ensure fast execution at the best available price.

The XpressRouter(SM) simultaneously monitors quotes from all U.S. option exchanges as well as querying alternate liquidity sources to find the best prices for our retail customer’s market and marketable limit orders. The XpressRouter(SM) also facilitates moving orders from an exchange that experiences an outage to keep orders in the marketplace.

This is just the latest innovation to come from our internal development team.

“The XpressRouter(SM) was designed and created in-house at optionsXpress,” stated Peter Bottini, Executive Vice President of Trading and Customer Service. “We looked at all the available third-party routers used by our competition and determined that we could develop a superior product internally.”

*15% relates to orders which were eligible to receive price improvement defined as marketable non-spread retail orders for 50 lot or less. The price improvement data has been audited by an independent third party. Contact us for more details.

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