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Press Release

OptionsHouse Adds Sophisticated Tax Management Tools

Oct 15, 2008

JERSEY CITY, NJ October 15, 2008 - OptionsHouse, LLC ("OptionsHouse"), an online retail brokerage firm, announced today it is providing customers with free access to a sophisticated tax management tool designed to assist both options and equities traders in minimizing tax liabilities and increasing after-tax returns.

OptionsHouse traders now have access to Scivantage Maxit&trade, a comprehensive, automated solution that tracks and adjusts the cost basis for each security in a client's portfolio. Additionally, Maxit simplifies Schedule D generation for tax filing. Maxit can alert investors to trades which might result in a short-term or long-term capital gain, or whether a wash sale may result.

This service is just the latest example of OptionsHouse's commitment to offering clients leading-edge products that help them make more informed investment decisions. By adding Maxit now, OptionsHouse is providing adjusted cost basis to its customers more than two years before cost basis reporting will be required. The mandatory basis reporting requirements were recently passed into law and become effective in 2011.

Maxit's comprehensive system supports all OptionsHouse product offerings, including stocks, options, and mutual funds. The system is invaluable for options traders; it automatically allocates option premiums to equities when contracts are exercised or assigned. In addition, LEAPs are automatically converted to standard options.

"Traders spend valuable time trying to figure out the tax implications of their investments," said George Ruhana, CEO of OptionsHouse. "Options pose unique tax challenges for investors. OptionsHouse selected Maxit for its unique ability to solve those challenges for our customers. This service should also reduce the possibility of potential tax filing errors and, come tax time, simplify the production of traders' Schedule D."

"We look forward to working closely with OptionsHouse to help their customers simplify the investment tax decision process," said Cameron Routh, Senior Vice President, Strategic Products for Scivantage. "OptionsHouse is a leading online brokerage that continues to offer cutting-edge products. Using Maxit, OptionsHouse customers can now easily report capital gains for year-end taxes, as well as proactively manage their portfolios for maximum year-round tax efficiency."

Scivantage, based in Jersey City, NJ, is a leading provider of web-based, front-and middle-office technology solutions for financial services companies.

Through Maxit, OptionsHouse offers investors the following tools:

• Pre-trade analysis of potential capital gains tax, and whether a sale will be a short-term or long-term capital gain (or loss)
• Wash sale identification and adjustment
• Continuous adjustment of cost basis in real time, factoring in splits, warrants, dividends, mergers, spin offs, interest, redemptions, etc.
• Supports multiple lot relief methods, including FIFO, LIFO, Average Cost, Specific ID, and MinTax
• Customized tax reports for realized and unrealized gains/losses
• Reports for IRS Schedule D purposes