E*Trade to buy online brokerage OptionsHouse for $725 million

(Reuters) – E*Trade Financial Corp said it would buy the parent of online brokerage OptionsHouse for $725 million in cash, as the company looks to better compete in derivatives trading. OptionsHouse executed 27,000 daily average revenue trades for the twelve months ended June 30, of which 63 percent were in options, E*Trade said on Monday. Chicago-based OptionsHouse currently operates 154,000 customer accounts and has $3.6 billion in customer assets, including $1.4 billion in cash.

Original story here.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply