GainsKeeper Press Release
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Chicago - 2/21/06
optionsXpress, Inc. (NASDAQ: OXPS) today announced that it has become the first online broker to enable fast, accurate capital gains calculations for complex options trading activities, through the integration of GainsKeeper tax lot accounting software. GainsKeeper is a unit of Wolters Kluwer Financial Services, a leading multinational publisher and information services company.
optionsXpress' new capabilities make it simple to calculate year-end results for tax filings and to perform real-time calculations to help with tax-related investing decisions. In addition, the integration offers our customers a wide range of stock-oriented functionality, such as calculations for wash sales and cost basis adjustments.
"Making effective tax decisions is critical to solid long-term returns," added David Kalt, CEO of optionsXpress Holdings, Inc. "For self-directed investors, particularly those who use options, calculating capital gains can be daunting in terms of both time and cost. Just as we demystified options for the individual investor, we are now helping simplify the complicated world of tax lot accounting with GainsKeeper."
Further differentiating the level of integration with GainsKeeper, optionsXpress is making available to its customers transaction data going back to their first trades with the company.
"That this integration was possible says volumes about the quality of optionsXpress' technology and systems," said David Stephens, vice president of the Securities and Insurance unit of Wolters Kluwer Financial Services. "GainsKeeper invented the tax lot accounting space, so we know that the only way a brokerage can offer this level of functionality is by having comprehensive and well-organized data and a back-office system that truly understands options."
GainsKeeper, a part of Wolters Kluwer Financial Services, provides automated tax-based financial tools and services to the investment community. GainsKeeper solutions enable financial institutions to offer sophisticated tax lot accounting services to their customers, ranging from back-office outsourcing to fully integrated, Internet-based tools and services utilized by the brokerage, mutual fund, and fund administration industries. To learn more about GainsKeeper and find additional contact information, visit http://www.gainskeeper.com/ for consumers and http://www.gkis.net/ for institutions.
Wolters Kluwer is a leading multinational publisher and information services company. The company's core markets are spread across the health, corporate services, finance, tax, accounting, law, regulatory and education sectors. Wolters Kluwer has annual revenues (2004) of 3.3 billion euros, employs approximately 18,400 people worldwide and maintains operations across Europe, North America and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its depositary receipts of shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.
About optionsXpress Holdings, Inc.
optionsXpress Holdings, Inc. provides innovative securities brokerage products and services for investor education, strategy evaluation and trade execution. Through its subsidiaries optionsXpress, an online brokerage, and brokersXpress, an online trading and reporting platform for independent investment professionals, the company offers a wide range of investor tools, virtually instant customer service via Live Help chat service and competitive commissions. optionsXpress has been named the top online securities brokerage by Barron's in its last three annual surveys (2003, 2004 and 2005).
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