OptionsXpress says trading volume grew in April

OptionsXpress Holdings Inc. said Wednesday that trading volume increased last month as the online options and futures brokerage added more than 5,000 customers.

The company brokered an average of 37,100 trades a day in April, a 16 percent increase from a year earlier. The figure was down 2 percent from March 2008.

OptionsXpress runs an online brokerage enabling clients to trade options and futures, which are contracts deriving their value from an underlying commodity or event. Trading volume tends to accelerate when markets undergo turbulence because people move to shelter their investments from unexpected swings in the market.

The company ended April with a total of 282,500 customers, a net gain of 5,400. The total is 24 percent higher than in April 2007 and 2 percent higher than in March. The brokerage's accounts held $5.7 billion at the end of April, which is up 11 percent from a year earlier.

"This growth demonstrates our ability to attract new customers even in uncertain markets," Chief Executive David Fisher said in a statement.

OptionsXpress shares rose 15 cents to $21.65 in morning trading.