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optionsXpress

(OXPS)

surged 22% on its first day of trading, following last night's pricing of its $198 million initial public offering.

Shares of the Chicago-based company jumped $3.64 to $20.14 Thursday, a day after it priced 12 million shares at $16.50 apiece via Goldman Sachs and Merrill Lynch.

The company sold 5 million of the shares, raising $82.5 million, and insiders sold 7 million.