OptionsHouse, Inc. ("OptionsHouse"), an online retail and institutional brokerage firm, announced today that Scottrade, a leading online branch-supported investment firm, is launching a new options trading platform powered by OptionsHouse, called Scottrade OptionsFirst.
"OptionsHouse is thrilled that Scottrade selected our firm to design an advanced options-trading platform for its customers," said John Hass, chief executive officer of OptionsHouse. "Scottrade's decision to work with us is a testament to the strength of our technology and approach, which provides an easy-to-use yet powerful trading platform."
Scottrade, through OptionsFirst, will be able to provide its options- trading customers with a site designed for speed and functionality utilizing point-and-click technology.
Through the platform, Scottrade will be able to provide tools such as the Risk Viewer, where Scottrade investors will be able to estimate their risk, on a position-by-position basis, or portfolio wide. Furthermore, OptionsFirst will offer a "Virtual Trading" tool, where investors can learn about options trading -- or test options trading strategies.
"A growing number of our customers are trading options and require a platform that is as savvy as they are," said Steve Walkenbach, executive director of business and product development at the St. Louis, Mo.-based Scottrade. "We were drawn to OptionsHouse because their comprehensive options- trading platform will help our customers make faster, better trading decisions."