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Screenshot of a breaking news alert e-mail from Q2 2017
Chicago-based online broker OptionsHouse, part of Aperture Group, announced today that it will launch a non-clearing futures commission merchant (FCM).
The launch, subject to regulatory approval, is scheduled for the second quarter of 2016.
Futures trading is currently available at OptionsHouse, but by establishing its own FCM, the company seeks to further bolster the futures trading experience for its customers. The time and effort required to open a futures account are poised to be significantly reduced, and additional cash management and trading strategies will be available. Customers will be able to trade electronically and access licensed OptionsHouse professionals at a full-service desk, 24 hours a day, six days a week.
OptionsHouse customers will have access to the U.S. exchanges of the CME Group and Intercontinental Exchange, as well as to the VIX futures and other products listed at the CBOE Futures Exchange.
Joe Corso, OptionsHouse’s SVP of Brokerage, commented,
“While others are exiting the FCM business, we decided to step up to ensure an outstanding multi-asset class trading experience for our customers and further establish ourselves as a leader in terms of value in the online brokerage industry.”
Daniel Ryba, OptionsHouse VP of Futures, added,
“We recognize how important futures are to many of our traders, as they are often used in conjunction with options and stock trading strategies. For those customers that are seeking additional education and support, we will have a full-service futures desk coupled with trading webinars to supplement the platform’s embedded education.”
The US National Futures Association (NFA) will be the firm’s designated self-regulatory organization.
(The current status of OptionsHouse, as shown on NFA’s website.)
For the official announcement from the company, click here.