Penson Worldwide Announces One-Stop Shop Clearing & Execution Service
for European Brokers
London, 9 December 2003 – Penson Worldwide, a leading provider of clearing, custody, and settlement services in North America & Europe, today announced its appointment of Chris Gregory, Director of Execution Services. Based from Penson Worldwide’s Finsbury Square offices, Gregory will be responsible for extending Penson’s electronic execution service to meet the growing needs of its European brokers.
Gregory’s appointment indicates a strategic move for the clearing broker. Penson already offers its North American clients a ‘one-stop shop’ clearing and execution service. The company has now committed to extending these services to its European customer base.
Gregory comments: “The potential we have within Penson, including the service’s front-end functionality and our existing North American trading capabilities, is superb. It’s now time to release that potential to the European market through a cost-effective, best-of-breed execution and clearing service.”
Gregory joins Penson Worldwide from SunGard Global Execution Services (SGES) where as Managing Director he established the company and was instrumental in building, launching and running SunGard’s electronic, direct-access broker service. Part of SunGard Data Systems, SGES was a London Stock Exchange, Deutsche Borse, Euronext and Stockholmsborsen member firm, trading on all major European and US Exchanges. Prior to joining SGES, Gregory was Head of US Member Services, Tradepoint Stock Exchange (The precursor to Virt-X), New York, responsible for launching electronic trading in UK equities on Tradepoint for US institutional investors, broker dealers and hedge funds.
About Penson Worldwide: www.penson.com
Penson Worldwide, Inc. is the holding company for Penson Financial Services, Inc., Penson Worldwide Settlements, Ltd., Penson Financial Services Canada, Inc., and Penson Financial Futures, Inc. The Penson Worldwide group of companies provides clearing, custody, and settlement services in the United States, Canada, the United Kingdom, and Europe for broker/dealers trading in securities and financial futures, including single stock futures, and fixed income products. Penson Financial Services, Inc., headquartered in Dallas, Texas, has served the clearing needs of all types of broker/dealers since 1995.
The firm is particularly well equipped to serve the needs of agency brokers, online brokers, direct access broker/dealers, and firms that serve the active trading market segment. Penson’s competitive advantages include its use of leading-edge technology and innovation, and its customer service orientation.
Penson Financial Services, Inc. is a member of the Chicago Stock Exchange, National Association of Securities Dealers, Inc. and SIPC. Penson Financial Services Canada, Inc. is a participating organization with the Toronto Stock Exchange, the Montreal Exchange, the Canadian Venture Exchange, is regulated by the Investment Dealers Association of Canada, and is a member of the CIPF. Penson Worldwide Settlements, Ltd. is a member of the London Stock Exchange and is regulated by the Financial Services Authority. Penson Financial Futures is a Futures Clearing Merchant member of the National Futures Association.
Press enquiries to
Julia Gregory / Katie Ainsworth, Cre8 Results Limited
Tel: +44 (0)20 7734 9199
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