"OptionsXpress has been a valued trading client of ArcaEx, and we are especially thrilled to now welcome them as a listed company," said Jerry Putnam, CEO of Archipelago. "As an electronic innovator in its own right, optionsXpress recognizes the value of the all-electronic model for trading, and the benefits to their investors in the multiple market approach."
The optionsXpress listing comes on the back of ArcaEx's highly successfully IPO and listing of its parent company, Archipelago Holdings, and follows insurance giant AIG's recent decision to dual list its common stock on ArcaEx.
In addition to providing the advantages of fully-electronic trading, an ArcaEx listing enables NYSE- and Nasdaq-listed companies and their investors to reap the benefits of ArcaEx's investor focused market structure. ArcaEx operates as an all-electronic auction market, with an open limit order book matching buyers and sellers directly based on simple price and time priority, leveling the playing field for all market participants.
Archipelago Holdings, Inc., the parent company of ArcaEx, announced on January 3, 2005 that the company has entered into a definitive agreement to acquire PCX Holdings, Inc., parent company of the Pacific Exchange and PCX Equities, Inc.
