As the popularity of option trading continues to grow, we believe TradeKing will offer wide appeal to investors and stimulate new demand for online trading. The platform’s democratic pricing structure, unique probability calculators, educational tools and social networking features are unparalleled in the online broker industry.
Chicago, Ill. (PRWEB) January 9, 2006
Executives from TradeKing™, the new low-priced online broker with strong ties to Chicago business, last week rang the opening bell of the Chicago Stock Exchange (CHX). The event symbolized the city’s central role in the growth of option trading – a TradeKing specialty – as well as the company’s financial backing from Chicago-based investors. A significant portion of the company’s online trading activity will be routed for best execution through the CHX and other Chicago-based exchanges; all option trades will be cleared through the Options Clearing Corporation, also based in Chicago.
“Chicago is the center of the option trading universe and figures prominently in our growth plans,” said TradeKing’s founder, Donato A. Montanaro, Jr., who also created online broker SURETRADE Inc. and is recognized as one of the pioneers of online trading. “It’s only fitting that we usher in the New Year and a new era for investors by ringing the opening bell as the CHX. The CHX has always delivered speedy, high quality execution for our customers, and we look forward to more of the same for our customers in the years ahead.”
TradeKing’s investors include OCA Ventures, the investment arm of the partners who led O’Connor and Associates – the Chicago-based pioneers of standardized option trading back in 1977; Bruce Rauner, a Principal at the Chicago private equity firm GTCR; and, members of the Quick family, which founded Quick & Reilly. Quick & Reilly was the first NYSE member firm to offer discounted stock trading commissions to retail clients after market deregulation in 1975.
“TradeKing is good for Chicago, and Chicago is good for TradeKing,” said Jim Dugan, Chief Executive Officer and General Partner of OCA Ventures. “As the popularity of option trading continues to grow, we believe TradeKing will offer wide appeal to investors and stimulate new demand for online trading. The platform’s democratic pricing structure, unique probability calculators, educational tools and social networking features are unparalleled in the online broker industry.”
TradeKing’s option traders will be charged a low flat fee of $4.95 per trade plus 65 cents per contract. The company offers some of the lowest trading commissions on the Internet, with no hidden fees or account minimums. All TradeKing customers pay the same fee, regardless of trading volume or assets in the account; in addition to options, they can trade and manage a full suite of investments, including stocks, mutual funds, exchange traded funds, bonds and Treasuries. The platform is complemented by a comprehensive set of online trading information tools, including access to voluminous, but customized information such as a personalized RSS newsreader, educational podcasts, customized financial blogs and a Wiki community – all designed to make the TradeKing experience more engaging, more efficient and more effective.
Based in Boca Raton, Florida, TradeKing is a nationally licensed online broker dealer with powerful online equity and option trading tools, including real-time portfolio information, advanced order entry, customized charting and alerts, free research and integrated news, stock, option and mutual fund screeners, volatility charts, a pricing probability calculator, enhanced option chains and interactive educational information.
TradeKing provides self-directed investors with discount brokerage services, and does not make recommendations or offer investment advice. Online trading system response and access times may vary due to market conditions, system performance, and other factors. Non-U.S. residents may be subject to country-specific restrictions. Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options available at tradeking.com. $4.95 commission rate applies to equity and option trades. See tradeking.com for more details on trade commissions for low priced stock, bonds, mutual funds and other securities. Add 1 cent per share for the entire order for stocks priced $2.00 or less.
For more information regarding our company and online broker system, please contact:
The Hubbell Group, Inc.
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