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Apex Clearing Corporation

1,228 bytes added, 7 February
/* History */
| company_name = Apex Clearing Corporation
| company_logo = [[Image:Apex-clearing.png]]
| key_people = [[Danny RosenthalWilliam Capuzzi]], CEO
| foundation = 2012
| location = Chicago
| press =
Apex Clearing Corporation is an independent [[clearing]] joint-venture between [[Peak6 Investments]] and [[Penson]] Financial Services. It offers clearing and custody services for robo advisors, including Wealthfront and Betterment.<ref>{{cite web|url=|name=‘Disruptive’ Custodian|org=Financial Advisor|date=February 7, 2019}}</ref>  The firm plans to said it would acquire [[Penson]]'s customer accounts and clearing contacts as well as $90 million of its liabilities and net assets to cover [[regulatory capital]] requirements. Apex, privately held and functioning as a [[clearing house]], aims to increase stability in the markets by mitigating both firmsPenson' s and Peak6's risk exposure. <ref>{{cite web|url=|name=Penson and PEAK6 to Form Apex Clearing Solutions|org=Securities Technology monitorMonitor|date=July 27, 2012}}</ref> [[Peak6]] will provide [[capital]], the management team, day-to-day operational oversight, and [[risk management]] discipline necessary to run the business.
== History ==
[[Peak6 Investments]] and [[Penson Worldwide Inc.]] announced the creation of Apex in June of 2012. The move by [[Penson]], in conjunction with the sale of its [[futures]] division to [[Knight Capital]], signifies the firms desire to exit the [[futures]] space.
<ref>{{cite web|url=|name=PEAK6 and Penson Announce Formation of Apex Clearing|org=Press Release|date=July 27, 2012}}</ref> In early February 2019 Apex Clearing said it would launch its crypto custody offering Apex Crypto in the first quarter of 2019. In their initial announcement in September 2018, Apex said bitcoin, bitcoin cash, ethereum and litecoin would be among the first currencies it would offer support for, with plans to add more based on demand.<ref>{{cite web|url=|name=A fintech firm backing hot robo advisors like Betterment and Stash is planning to launch crypto custody services within the next few months|org=Business Insider|date=February 7, 2019}}</ref>
== Key People ==
*[[Danny RosenthalWilliam Capuzzi]], CEO*[[Lucille Mayer]], COO*[[William Brennan]], CFO*[[Chris Fesler]], CTO*[[Raluca Marrin]], Chief People Officer*[[John Mollica]], Head of Institutional*[[Ron Fiske]], Head of Retail*[[Sam McIngvale]], Head of Retail Innovation
== References ==
[[Category:Apex Clearing]]