Schwab contracts with OptEx for options trading

Schwab contracts with OptEx for options trading

OptEx Services, a wholly-owned subsidiary of The Goldman Sachs Group, has won a contract with Charles Schwab & Co. to route and execute single-leg options orders via its technology-based routing system.

The OptEx system uses advanced technology to scan the entire options marketplace and route orders automatically, based on the best price available nationwide and other execution quality factors.

OptEx, which will act as sole agent for orders routed through the system, will access liquidity from a number of specialist and market making firms, including SLK-Hull Derivatives, says the company.

Lon Gorman, vice chairman, The Charles Schwab Corporation, says: "Price, speed and access to liquidity are all critical to options traders."

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