Alaron Trading Corporation
|Alaron Trading Corporation|
|Products||Futures Trading, Asset Management, Investment Banking|
Alaron Trading Corporation was a full-service financial firm that offered futures trading, investment banking and asset management services to institutions and retail clients. It also offered services for trading gold, silver, and platinum coins, bars, and granules. In May of 2009, Peregrine Financial Group, PFGBest, bought the customer assets of Alaron Trading, although Alaron still operates a back-office software consulting business.
On July 24, 2012, Alaron filed a complaint in Cook County Court against Chris Hehmeyer, chairman of the National Futures Association, NFA, over events that occurred between August 2008 and June 5, 2009. Alaron’s president, Steve Greenberg, alleges that Hehmeyer interfered with their efforts to sell customer accounts to PFGBest and intentionally misrepresented an offer that would expand business relationships with Alaron. The complaint seeks $4 million in damages and another $12 million in punitive damages. 
Alaron was founded in 1989 headquartered in Chicago.
On Nov. 13, 2008, Alaron announced it had acquired Axis Global Management, a Los Angeles-based Introducing Broker with nine employees, establishing a foothold for Alaron in California.
In 2008, Alaron Trading Corporation announced an expanded global clearing relationship with Penson GHCO, a subsidiary of Penson Worldwide, Inc. Alaron chose Penson as a clearing FCM.Alaron contended the move was an integral part of Alaron's growth strategy.
- ↑ PFGBest's Alaron Acquisition Clears Way For More Deals. PFGBest.
- ↑ Futures firms fuse as Peregrine buys Alaron. Crain's Chicago Business.
- ↑ PFGBEST acquires Alaron customer assets. PFGBEST.
- ↑ Alaron Trading Corporation. Bloomberg/Businessweek.
- ↑ Trading firm's lawsuit alleges regulator took advantage of position. Chicago Business.
- ↑ Press Release. Alaron.
- ↑ Press Release. Earth Times.