Open E Cry, LLC (OEC) was founded in 2002. It maintains headquarters in Powell, Ohio. The online brokerage company focuses on its core product called the OEC Trader for futures, Forex and equity trading. OEC was acquired by optionsXpress Holdings, Inc. on July 1, 2008 and is now a subsidiary of that firm.
Open E Cry supports active traders, institutional clients, introducing brokers and API developers in their use of OEC’s proprietary trading technology. In essence the firm provides brokerage services along with proprietary technology that is used to provide those services.
Open E Cry offers both 24-hour software support and a 24-hour trade desk to answer any questions an active trader may have. It emphasizes the fact that active traders to serve active trader needs created its OEC Trader platform in large measure.
Institutional clients are invited to take advantage of a set of complex systems and order routing technology specifically designed to meet the high standards demanded by high volume commodities and futures traders.
Open E Cry cites its origins as an IB (instituting broker) in promoting its services and although it has grown into a Futures Commission Merchant and software developer, it promises to build its trading offerings with the needs of both the foreign and domestic introducing broker in mind.
One cannot help but wonder whether the company’s intense focus on software creation and development might interfere with the interests and needs of its clients at times. If the above claims are to be believed the answer from OEC is that it won’t.
Unlike many trading firms that use a proprietary platform Open E Cry actually offers an Application Programming Interface (API) option to software developers who might want to expand or extend the technology behind OEC’s platform to suit their own needs and clientele. Custom programming services are also available.
If everything (services and software etc.) available from Open E Cry works together as it should the results could be interesting indeed.
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