Charles Schwab Nabs OptionsXpress

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Charles Schwab

Charles Schwab has announced its intent to acquire retail online brokerage services provider optionsXpress, a 10-year old Chicago-based firm focusing on the equity options and futures markets.

Walt Bettinger, president and CEO of Schwab, says the reason for the purchase is that his firm's clients "are increasingly using options and other trading strategies as a key part of their total approach to investing."

Whereas optionsXpress' clients will be able to tap into Schwab's array of products and s