Schwab Lowers Option Contract Fees
March 22 2005 - 9:30AM
PR Newswire (US)
Schwab Lowers Option Contract Fees SAN FRANCISCO, March 22
/PRNewswire-FirstCall/ -- Charles Schwab & Co., Inc. today
announced reductions to its online option trades for domestic
retail investors. Effective April 1, investors who place 30 or more
trades per quarter or with household assets of more than $1 million
now benefit from improved options pricing of $9.95 per trade plus
$0.95 per contract (reduced from $1.40 per contract). "We are
empowering Schwab's active traders with very competitive fees,
powerful trading technology and knowledgeable options service to
take advantage of the fast growing options market," said Jeffrey M.
Lyons, president, Active Trader at Schwab. "At Schwab, options
traders get much more than low commissions and option trading
tools. They get access to dedicated options specialists that really
know the business." The new pricing adds to Schwab's already
extensive options offering for active traders. They include: --
Schwab Option Specialists to assist customers, as well as trading
specialists available 24 hours by 7 days a week -- OptionBuilder(R)
makes it easy for traders to build, research and trade multiple-leg
options strategies -- SpreadSearch, an enhanced online option tool
that help traders identify and execute simple to complex option
strategies -- Streaming Greeks and Options Pricing Tools help
traders evaluate and forecast option behavior and test trade
strategies -- A variety of educational programs and tools,
including online options seminars available on Schwab.com --
Account flexibility, including the ability to trade long options in
IRA accounts For more information about Schwab's options trading
products and services, please visit http://www.schwabat.com/options
About Charles Schwab The Charles Schwab Corporation (NYSE/Nasdaq:
SCH), through its operating subsidiaries, provides securities
brokerage and financial services to individual investors and the
independent investment advisors who work with them. With over 7
million individual investor accounts and more than $1 trillion in
client assets, The Charles Schwab Corporation is one of the
nation's largest financial services firms. Its subsidiary Charles
Schwab & Co., Inc. (member SIPC) provides a complete range of
investment services and products, including an extensive selection
of mutual funds; financial planning and investment advice;
retirement plans; referrals to independent fee-based investment
advisors; and custodial, operational and trading support for
independent fee-based investment advisors through its Schwab
Institutional division. Its subsidiary Charles Schwab Bank (member
FDIC) provides banking and mortgage services and products. The
corporation's other operating subsidiaries include U.S. Trust
Corporation (member FDIC) and CyberTrader(R), Inc. (member SIPC).
These companies' Web sites can be reached at
http://www.schwab.com/, http://www.schwabbank.com/,
http://www.ustrust.com/, and http://www.cybertrader.com/.
(0005-7339) DATASOURCE: Charles Schwab CONTACT: Emily Kao of
Charles Schwab, +1-415-636-3464, or ; or Mike Boccio of Intermarket
Communications, +1-212-888-6115, or Web site:
http://www.schwab.com/
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