Penson acts as the intermediary on behalf of our correspondents in order to reconcile and complete orders between the transacting parties. Our comprehensive clearing and settlement services are available for all major types of investment products including equities, options, futures, foreign exchange, mutual funds, money market funds and fixed income.
Additionally, we provide global custodian or sub-custodian facilities that allow correspondents to hold and monitor all of their clients’ multi-currency cash and internationally traded security holdings.
Penson is the largest independent provider of clearing and settlement services globally, servicing over 300 correspondents worldwide. Our independence allows us to offer correspondents custom solutions to fit their needs, while our global clearing expertise and technology infrastructure allow us to support the growth and innovation of our customers around the world.