Business & Finance
Business and Finance
Business and Finance
Wed, June 23, 2010 
LONDON--([ BUSINESS WIRE ])--Penson Worldwide, Inc. (NASDAQ: PNSN) announced today that its United Kingdom clearing subsidiary, Penson Financial Services Ltd. (PFSL), has signed an agreement to provide Model A clearing services to Westhouse Securities Limited to support its new market making offering.
"We believe that our technology solution, coupled with our client service model and flexibility, will enable Penson to successfully support Westhousea™s market making business. We are delighted Westhouse has selected Penson; Westhouse has ambitious plans to grow its business, and ita™s a real honor to be their chosen service provider."
Westhouse ([ westhousesecurities.com ]) is an integrated corporate finance and broking house with a strong track record across a number of market sectors and particular expertise in emerging markets, natural resources and small to mid cap stocks. The business focuses on providing specialist corporate finance advice together with excellent research and trade execution through its sales and trading teams.
Simon Doyle, Head of Equities at Westhouse, said, aAs part of the commencement of Westhousea™s market making desk, we wanted to partner with a trusted clearer who could confidently support our growing business. We believe Penson successfully meets these requirements, and we look forward to expanding our business with them.a
Clive Triance, CEO of PFSL, added, aWe believe that our technology solution, coupled with our client service model and flexibility, will enable Penson to successfully support Westhousea™s market making business. We are delighted Westhouse has selected Penson; Westhouse has ambitious plans to grow its business, and ita™s a real honor to be their chosen service provider.a
Penson Financial Services Limited (authorised and regulated by the FSA and a member of the London Stock Exchange) is wholly owned by Penson Worldwide, Inc., the leading global independent provider of execution, clearing, settlement and technology to the global financial services industry. In Model A clearing, PFSL ([ www.penson.com/pfsl ]) acts as agent for a correspondenta™s customers, supplying them with the information needed to settle their transactions.
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.
