LONDON--(BUSINESS WIRE)--Penson Financial Services Ltd (PFSL), a leading independent provider of clearing services in the UK and a member of the Penson Worldwide, Inc. (NASDAQ: PNSN) group of companies, today announced the launch of its Contract for Difference (CFD) execution and clearing service. Available across Europe, one Penson UK correspondent is already live with the product following a quick and smoothly-run implementation.
This launch is part of a strategy to expand the range of Penson products and meet demand expressed by both new and existing customers. With the addition of CFDs, Penson provides on-line access to exchange order books via Penson CFD Trader allowing clients to trade live market depth. Clients have access to real-time market prices, multiple order types, streaming news and market updates.
Clive Triance, CEO of PFSL, said: “CFD trading has rapidly become an established part of the global investors’ toolkit. As we continue to broaden our services, we expect this product to be in demand from existing and prospective clients. The CFD product complies with market and regulatory requirements and will give PFSL correspondents the ability to expand their market offering through a single service provider.”
The CFD product complements the established equity, fixed income, FX and derivatives asset classes that PFSL offers and provides a one stop shop for clearing and settlement services.
About Penson Financial Services Ltd
Penson Financial Services Ltd (PFSL) is the leading independent clearing services provider in the UK. With a reputation for expertise, reliability and true customer-focused service, PFSL provides world class integrated outsourcing solutions and direct access to more than 50 markets through a consolidated technology platform for global execution, settlement, clearing, custody and securities financing, as well as regulatory and compliance reporting. Using the global technology base and scale of Penson Worldwide and its market expertise, PFSL has the ability to reliably deliver real advantages to clients including lower operating costs, lower liquidity requirements, flexible services and more efficient processes.
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 Futures, 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.
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.