Penson Financial Services Limited (PFSL), the London-based subsidiary of Penson Worldwide, Inc., is an FSA regulated firm that provides a broad range of execution, settlement, clearing and custody services to market makers, broker dealers and private client wealth managers. PFSL’s services include Model A and Model B (fully disclosed) clearing and settlement, CREST clearing, global custody, compliance information, as well as customized data processing, regulatory reporting, execution, portfolio management, and modeling systems. Penson utilizes flexible, yet highly automated, fast and efficient processing systems, customized to each firm’s individual requirements, to increase the productivity and cost-effectiveness of the operation.

Penson Financial Services Limited provides a complete outsourcing service so correspondents can focus on their business without concern for clearing requirements. All Penson clients, whether a full-service retail stockbroker, execution only, discount or online broker, market maker, proprietary trading organization, bank, institutional sales organization, small boutique, fund manager, or an independent financial advisor, work with a management team that brings a broad range of experience and expertise to all aspects of settlement services.

• Variable operating costs
• Reduced ‘external’ costs from Penson economies of scale
• Lower liquidity requirements
• Greater return on capital
• Service dedicated to your specific requirements
• Flexibility of service
• STP processing
• Web access for correspondents and their clients
• Portfolio valuation, measurement and modeling and CGT reporting
• Order routing Penson Financial Services Limited economics are clear.

• Computer hardware and software
• IT and operational support
• Property/floor rental
• Disaster recovery
• Compliance infrastructure
• Staff training and competence
• Risk monitoring and control