BEDMINSTER, N.J., Sept. 6, 2012 /PRNewswire/ -- GAIN Capital Holdings, Inc. (NYSE: GCAP; "the Company"), a global provider of online trading services, has completed its previously announced purchase of Open E Cry, LLC ("OEC"), an online futures broker, from optionsXpress Holdings, Inc. a subsidiary of The Charles Schwab Corporation. The acquisition of OEC adds futures and exchange traded options to GAIN's core forex trading offering, in keeping with the Company's strategy to diversify its product offerings and grow its commission-based revenue sources.
"We are pleased to have completed this transaction in a timely manner and look forward to offering our retail and institutional customers OEC's broad range of futures and related exchange-traded market products," said Glenn Stevens, CEO of GAIN Capital. "OEC has a successful track record of growth and we believe there are significant opportunities to further develop and grow its business, as well as potential synergies to achieve greater operating efficiency."
As of July 31, 2012, OEC held approximately $104.8 million in customer assets and approximately 8,316 open accounts. OEC's revenue was $13.6 million for the fiscal year ended December 31, 2011. The Company expects the acquisition to be accretive to fiscal year 2012 earnings.
About GAIN CapitalGAIN Capital Holdings, Inc. (NYSE: GCAP) is a global provider of online trading services. GAIN's innovative trading technology provides market access and highly automated trade execution services across multiple asset classes, including foreign exchange (forex or FX), contracts for difference (CFDs) and exchange-based products, to a diverse client base of retail and institutional investors.
A pioneer in online forex trading, GAIN Capital operates FOREX.com, one of the largest and best-known brands in the retail forex industry. GAIN's other businesses include GAIN GTX, a fully independent FX ECN for hedge funds and institutions, and GAIN Securities, Inc. (member FINRA/SIPC) a licensed U.S. broker-dealer.