Penson Futures

From MarketsWiki
(Redirected from Penson GHCO)
Jump to: navigation, search

Penson Futures
Penson-Futures.jpg
Founded 1985
Headquarters Chicago
Key People John D. Streich, President and CEO
Products Futures and options clearing and execution
Website www.pensonfutures.com

Penson Futures was a Chicago-based futures execution and clearing subsidiary of Penson Worldwide. Knight Capital Group acquired FCM in 2012, and renamed it Knight Futures. Two years later, in 2014, the FCM was acquired by Wedbush Securities and renamed Wedbush Futures.

The firm was formerly known as Penson GHCO and Goldenberg, Hehmeyer & Co. (GHCO) and changed its name on November 3, 2010. [1]

The firm started as a traditional futures and options clearing member at the CBOT, with more than 200 floor traders at its peak, before diversifying to include professional credit and clearing services and expanding its electronic execution business[2].

History

GHCO was launched on Jan. 2, 1985, by Ralph Goldenberg and Christopher Hehmeyer, two prominent members of the Chicago Board of Trade who had served as directors and as chairmen of the Board of Trade Clearing Corporation, now known as The Clearing Corporation.

Penson entered the futures industry in 2001 with the launch of Penson Financial Futures in an effort to trade derivatives in the U.S. In 2007, Penson Worldwide acquired GHCO. [3][4]. Penson Futures absorbed Penson Financial Futures as well as First Capitol Group LLC, a Wisconsin-based FCM after the 2007 acquisition.

In December of 2008, Alaron Trading Corporation announced an expanded global clearing relationship with Penson Futures. Alaron was said to have chosen Penson as a clearing FCM.[5]Alaron contended the move was an integral part of Alaron's growth strategy.[6]

In 2010, the company expanded their services to include a global futures execution desk and broke the half-billion dollar mark in segregated assets.

In 2011, Penson Futures combined its futures business with Penson Financial Services, Inc., (PFSI), a registered broker-dealer and wholly owned subsidiary of Penson Worldwide Inc.

Products and Services

Penson Futures is a member of CBOT, CME, Eurex, USFE, Euronext.liffe, Euronext Paris, ICE, ICE Futures Europe, MGEX and The Clearing Corporation.

Executive Committee (at the time of its sale in 2012)

Registration

References

  1. Penson GHCO changes name to Penson Futures. Futures Magazine.
  2. History. Penson GHCO.
  3. Press release. Penson Worldwide.
  4. Penson Worldwide wraps Goldenberg buy. Associated Press via Boston.com Business.
  5. Press Release. Alaron.
  6. Press Release. Earth Times.