At Penson Worldwide, Inc., our dedication to providing flexible technology-based processing solutions to the investment industry has earned us an international reputation for extraordinary customer service and total commitment to client success.

Headquartered in Dallas, Texas, our businesses in the United States, Canada and Europe play an important role as an international, multi-currency execution, clearing and custody organization for broker-dealers trading in securities and derivatives. We support a wide range of clients-including full service retail broker-dealers, online and discount brokers, active, proprietary and automated traders, including black-box traders, as well as private client wealth managers, institutional sales firms, investment advisors, market makers, bond dealers and underwriters.

By targeting and consolidating once disparate market functions-such as domestic and international securities settlement, futures and options-we have developed a unique technical expertise that enables us to provide clients with a single source of execution, trade processing and clearing in what has traditionally been a fragmented marketplace. Our state-of-the-art, web-based technology provides our correspondents and their clients with immediate access to online, real-time communications systems, as well as execution capabilities in most major markets.

Penson's innovative approach to conducting business and utilizing technology also extends to our interactions with our clients. We believe a key component of a company's success comes from the ability to focus on its core business. We always take the time to understand each client's unique way of doing business and deliver tailored services to fit their specific needs. By staying flexible, we provide fast, accurate and personalized service.

The knowledge, experience and professionalism of Penson's employees, from senior management to service representatives, are unrivaled. Our dedication to service is backed by financial stability, while our ultimate commitment is to provide accurate and efficient service to you, our valued partner.

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The Penson Difference

Penson's founders, Daniel P. Son and Phil Pendergraft, began the firm's clearing operation with a staff of nine in 1995. With modest beginnings, we entered the securities clearing marketplace competing with financial giants and large banks. We knew instantly that we had to differentiate ourselves from them. Our policy of cooperation with and respect for our customers has helped us grow to over 10 companies and more than 900 employees around the world. Penson is ranked among the five largest correspondent clearing firms by number of correspondents in the United States, Canada and the United Kingdom.

The reasons for this phenomenal growth are simple. From the moment you become a Penson client, our knowledgeable representatives are ready to respond to all your needs, from daily inquiries and transaction processing to system enhancements. Through our experience, we know that the relationships you develop with your Penson team members will not only exemplify Penson's integrity and "people first" policy, but will also give you the best possible results.

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Broad Market Access

Penson provides trading access to most North American and European markets, including equities, options, financial futures and fixed income products. In addition, all of Penson's services are enhanced through our memberships and affiliations with Depository Trust Clearing Company (DTCC), the Options Clearing Corp. (OCC), Canadian Depository for Securities (CDS), Canadian Derivatives Clearing Corp. (CDCC), CREST, Euroclear Bank and SWIFT.

To take advantage of this unique global position, we created a Financial Information Exchange (FIX) based engine that facilitates Direct Market Access execution in both securities and derivatives. We provide our clients with a convenient, single-line connection to the major European and North American markets for order execution and real-time market data. Although separate products, the combination of the Penson execution service and our front-end technology provides a robust, scalable and turnkey solution for your trading needs.

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The Penson Technology Advantage

Penson's flexible approach to technology has created an ever-evolving product that provides specific solutions to meet each client's individual requirements. Constantly changing marketplace demands are met by investing heavily in new technologies that allow us to process a high volume of transactions while maintaining stability and reliability.

Our clients and their customers are served by a dynamic and flexible online front-end/back-end system that offers real-time, multi-lingual, secure access to account data. This processing system enables online client information inquiries, data input capabilities and customized reporting.

Nexa Technologies, Inc., the market-side technology company of Penson Worldwide, Inc., complements our modular front-end to back-office solutions. Nexa's multi-market trading platform, order management system, connectivity and market data services are available on an all-inclusive or modular basis.

Penson's systems are designed to grow without requiring constant redevelopment of core applications. Our investment in technology is protected by experienced industry professionals who combine technical knowledge with a "people first" attitude.

The combination of our experienced personnel, custom reports and access to real-time data provides our clients with the information they need, when they need it.