PFSI also offers a platform for registered investment advisors and provides prime brokerage services to hedge funds and other institutional investors. Penson is a member of NASD and SIPC.

Brief History

Penson Financial Services, Inc. was founded in 1995 by Daniel P. Son, and Phil Pendergraft. Penson began to build a correspondent clearing infrastructure for outsourced clearing to broker/dealers. The firm started with a staff of nine and has grown rapidly to serve the needs of correspondents based in the United States and around the world. PFSI is a subsidiary of Penson Worldwide, Inc. as are Penson Financial Services Canada, Inc., Penson Financial Services Ltd., Penson Financial Futures, Inc. and Nexa Technologies, Inc.

Penson Technology

Most of Penson's business is conducted through the Internet. The Company's substantial and continuing investment in innovative and evolutionary systems technology allows it to process a high volume of transactions without sacrificing stability and reliability. Penson utilizes redundant disaster recovery facilities with full replication of data, and the technology infrastructure incorporates load-balanced servers and redundancies to ensure prompt data access capabilities. The Penson technology advantage makes it the flexible choice in global securities services.

Penson Connection

Penson's reporting capabilities provide customized reporting based on client specifications, and the Penson Connection website interface can be customized to display the client's logo and corporate colors. Penson can also incorporate a seamless link from the client's own website where the user name and password login need only be entered once.

*Text provided by Penson Worldwide.

Website:  www.penson.com