OptionsXpress Inc. reported lower key metrics for October, noting that it continues to view lower industrywide demand for new accounts "as a result of broader economic weakness, including high unemployment and low consumer confidence."
The Chicago equity options and futures trading firm said its retail daily average revenue trades totaled 32,500, down 20% from a year earlier, and flat from September. Institutional daily average revenue trades were 12,500 — down 32% from a year earlier, but up 6% from September.
OptionsXpress reported Wednesday it had 3,200 net new customer accounts, bringing its customer base to 347,100, an increase of 12% from a year earlier and 1% from September. OptionsXpress said client assets totaled $6.2 billion — 32% higher than a year earlier and 2% lower than in September.