Penson Worldwide
From MarketsWiki
| Penson Worldwide | |
| Founded | 1995 |
|---|---|
| Headquarters | Dallas, Texas USA |
| Key People | Roger J. Engemoen, Jr., Chairman; Phil Pendergraft, Chief Executive Officer; Daniel Son, President |
| Web site | www.penson.com |
Penson Worldwide provides execution, clearing, custody, settlement and technology infrastructure products and services to financial services firms and others servicing the global financial services industry. Companies included in the group include Penson Financial Services, Inc., Penson Financial Services Canada Inc., Penson Financial Services Ltd., Nexa Technologies, Inc., Penson GHCO, First Capitol Group, LLC and Penson Asia Limited, among other companies.[1]
Contents |
History
Penson was founded by Daniel P. Son and Phil Pendergraft (as Penson Financial Services, Inc.) in 1995 with a staff of less than 10 people. Penson focused its early efforts on serving active trading broker/dealers and investors, using technology, advanced automation and customer service to differentiate itself, eventually expanding its capabilities to serve all types of investors.
In 2000, Penson Worldwide Inc. was formed as the primary holding company for Penson Financial Services, Inc., and two other Penson-acquited companies as they entered Canadian and European securities clearing. These two companies are now known as Penson Financial Services Canada, Inc. and Penson Financial Services Limited.
In 2001, Penson formed Penson Financial Futures, Inc. to enable National Futures Association (NFA) registered correspondents and their customers access to electronically-traded futures contracts.
In 2002, Penson acquired Integrated Trading Solutions, Inc., and also made an investment in Nexa Technologies, Inc., both software firms that develop and market front-end trade entry software platforms. It 2004, it acquired the remaining ownership interest in Nexa Technologies, and Integrated Trading Solutions was merged into Nexa Technologies. Also in 2004, Penson's technology firm, Nexa Technologies, Inc., acquired the assets of Tick Data, a provider of historical stock price data to facilitate automated traders' ability to back-test their models and algorithms.
On May 17, 2006, following a successful IPO, Penson Worldwide, Inc.'s common stock began trading on NASDAQ under the symbol: PNSN. Later that year, Penson founded Penson Asia, based in Hong Kong, to provide securities-processing technology and other products and services to financial-industry clients in the Asia-Pacific region.
In February of 2007, the Chicago-based company Goldenberg, Hehmeyer & Co. was acquired and joined the Penson Worldwide group of companies as Penson GHCO. That group provides global access to exchange-traded futures and options, including those based on U.S. and foreign equity index products, single-stock futures, foreign exchange, interest rate products, foreign yield curves and agricultural and industrial commodities.[2]
Products and Services
- Clearing, Settlement, Custody
- International Direct Market Access
- Nexa Trading Platforms: direct access trading technology, e.g., online brokerage solutions including direct access trading applications, browser-based trading, back-office order management systems, market data feeds, historical data, and FIX execution services that integrate with clients' existing systems
- Prime Brokerage
- Investment Manager/Advisor Services
- Futures
- Securities Lending
- Retirement Plans
- Quantitative Execution Group
Key People
- Phil Pendergraft, Chief Executive Officer
- Daniel P. Son, President
- Roger J. Engemoen, Jr., Chairman of the Board
News
- On Nov. 19, 2008, Penson Worldwide announced the promotions of Dan Weingarten and Sean Malloy to senior vice presidents and co-directors of global sales and marketing. Both Weingarten and Malloy joined Penson Financial Services, Inc. (PFSI), a U.S. subsidiary of Penson Worldwide, in July of 2007 as senior vice presidents of U.S. sales and marketing. In their expanded role, Weingarten and Malloy will continue to direct the U.S. sales team while assuming responsibilities for developing and executing Penson Worldwide’s global sales and marketing strategy.
Annual Report
References
- ↑ Penson Worldwide, Inc. Reports Results for Fourth Quarter and Year Ended December 31, 2007. Penson Worldwide. Retrieved on February 6, 2008.
- ↑ Penson buys Goldenberg, Hehmeyer & Co clearing unit. finextra. Retrieved on July 1, 2008.
