Business & Finance
Tue, June 15, 2010Mon, June 14, 2010Sun, June 13, 2010Fri, June 11, 2010Thu, June 10, 2010Wed, June 9, 2010Tue, June 8, 2010Mon, June 7, 2010Penson GHCO Announces Global Futures Execution Desk
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Published in Business and Finance on Wednesday, June 9th 2010 at 21:00 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
CHICAGO--([ BUSINESS WIRE ])--Penson Worldwide, Inc. (NASDAQ: PNSN) announced today that its futures clearing subsidiary, Penson GHCO, has established a 24-hour, global execution desk for assisting managed futures executions, including bulk order placement and allocations. Penson GHCO also announced a new relationship with introducing broker Colagrossi Futures, which plans to make immediate use of the desk.
"They will benefit from Penson GHCOa™s flexibility, responsiveness and technology expertise. We look forward to working with the Penson GHCO team, which is committed to excellence in the managed futures and global execution arena."
John Streich, CEO of Penson GHCO ([ www.pensonghco.com ]), commented, "Establishing a global execution capability is in line with our strategy of expanding our business with introducing brokers that service professional money managers. It also reflects our ability to act quickly to help clients meet their futures trading objectives.a The 24-hour desk, which is intended to initiate operations next week, is staffed by a team of professionals who are highly experienced in global futures execution.
aAfter reviewing several alternatives, we selected Penson GHCO because it was clearly the best fit for our clients,a said Gerard Colagrossi, owner of Colagrossi Futures. aThey will benefit from Penson GHCOa™s flexibility, responsiveness and technology expertise. We look forward to working with the Penson GHCO team, which is committed to excellence in the managed futures and global execution arena." Before starting his own firm in 2009, Mr. Colagrossi, a 25-year futures industry veteran, was associated with MF Global from 1996 to 2005, where he established a 24-hour execution desk, and at ABN AMRO and UBS, where he managed similar units.
About Penson Worldwide: [ www.penson.com ]
The Penson Worldwide group of companies provides execution, clearing, custody, settlement and technology infrastructure products and services to financial services firms and others servicing the global financial services industry. The Penson Worldwide group of companies includes Penson Financial Services, Inc., Penson Financial Services Canada Inc., Penson Financial Services Ltd., Nexa Technologies, Inc., Penson GHCO, Penson Asia Limited, and Penson Financial Services Australia Pty Ltd, among other companies. Headquartered in Dallas, Texas, Penson has served the clearing needs of the global financial services industry since 1995. Penson Worldwide - Building the Best Clearing and Execution Services Firm in the World.
Penson Financial Services, Inc. is a member of the New York Stock Exchange, NYSE Alternext, Chicago Stock Exchange, FINRA, the Chicago Board Options Exchange (CBOE), OneChicago, the International Securities Exchange (ISE), the NYSE Arca Exchange, the Options Clearing Corp (OCC), the MSRB, NSCC, ICMA, DTC, Euroclear, SIPC and is a participant of the Boston Options Exchange (BOX). Penson Financial Services Canada Inc. is a participating organization with the Toronto Stock Exchange, the Montreal Exchange, the CNQ Exchange and the TSX Venture Exchange, is regulated by the Investment Industry Regulatory Organization of Canada, is a member of the CIPF, CDCC and CDS and subscribes to various Canadian Alternative Trading Systems. Penson Financial Services Ltd. is a member of the London Stock Exchange and is authorized and regulated by the Financial Services Authority. Penson Financial Services Australia Pty Ltd is a member of the ASX Group, which operates the Australian Stock Exchange and the Sydney Futures Exchange. Penson GHCO is a registered Futures Commission Merchant and clearing member at the Chicago Mercantile Exchange, Chicago Board of Trade, Kansas City Board of Trade, London International Financial Futures Exchange, and ICE Futures.
Forward-Looking Statements
Statements contained in this news release that are not based on current or historical fact are forward-looking in nature. Such forward-looking statements are based on current plans, estimates and expectations. Forward-looking statements are based on known and unknown risks, assumptions, uncertainties and other factors. Actual results, performance, or achievements may differ materially from any future results, performance, or achievements expressed or implied by such forward-looking statements. Penson undertakes no obligation to publicly update or revise any forward-looking statement.
