OptionsHouse, ("OptionsHouse"), a new retail brokerage firm, launched Monday the first online trading site to offer its customers both stock and options executions for a low, flat per- trade fee.
A subsidiary of Peak6 Investments, L.P. ("Peak6"), OptionsHouse delivers traditional software-based trading ease and functionality through its more readily accessible online platform.
"OptionsHouse will lead the retail options marketplace by introducing flat-fee pricing and user-friendly, intuitive technology backed by the experience and expertise of Peak6," says OptionsHouse co-CEO John Hass, an 18-year securities veteran and former partner of Goldman Sachs. "Clients will be particularly drawn to our technology because of its power, and the ease of use and flexibility it affords them."
Flat Fee Price Structure
OptionsHouse provides a simple, transparent price structure: The commission on each option or stock trade will be $9.95 per trade, regardless of the size of the trade. "Clients are constantly bombarded by confusing price structures that rely on escalating per-contract rates or a variety of back-end fees," Hass says. "OptionsHouse will eliminate these hidden and confusing trading costs, allowing clients to focus on trading."
Unparalled Technology
The OptionsHouse platform provides clients with an array of simplified and efficient tools that respond to their trading needs. OptionsHouse developed these sleek, powerful tools through idea generation, testing, and optimization with PEAK6.
"We've incorporated state-of-the-art Web technology to increase ease of use and functionality in our design of the site," says OptionsHouse co-CEO Daniel Rosenthal and former Chief Technology Officer for Peak6. "OptionsHouse customers will get a trading site designed to simplify and enhance their options and stock trading, featuring a clean, accessible user interface that puts what investors need right at their fingertips...and nothing more.
"We have designed OptionsHouse to respond to our clients' needs - an intuitive trading system," added Rosenthal. "For example, we simplify the trading process by integrating execution and appropriate information logically throughout the site. Clients are able to analyze trades and execute orders in less time, and with fewer clicks."
"Through OptionsHouse, clients will get access to state-of-the-art trading tools - and will get closer to the trading floor than ever before," says Matthew Hulsizer, Peak6 co-founder.