Difference between revisions of "Apex Clearing Corporation"

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Apex Clearing Corporation is an independent [[clearing]] joint-venture between [[Peak6 Investments]] and [[Penson]] Financial Services. The firm plans to 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 firms' risk exposure. <ref>{{cite web|url=http://www.securitiestechnologymonitor.com/news/Penson-PEAK6-Apex-30673-1.html|name=Apex Clearing Solutions|org=Securities Technology monitor|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.  
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Apex Clearing Corporation is an independent [[clearing]] joint-venture between [[Peak6 Investments]] and [[Penson]] Financial Services. The firm plans to 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 firms' risk exposure. <ref>{{cite web|url=http://www.securitiestechnologymonitor.com/news/Penson-PEAK6-Apex-30673-1.html|name=Penson and PEAK6 to Form Apex Clearing|org=Securities Technology Monitor|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 ==
 
== 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.  
 
[[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=http://www.businesswire.com/news/home/20120531006729/en/PEAK6-Penson-Announce-Formation-Apex-Clearing|name=PEAK6 and Penson Announce Formation of Apex Clearing|org=|date=}}</ref>
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<ref>{{cite web|url=http://www.businesswire.com/news/home/20120531006729/en/PEAK6-Penson-Announce-Formation-Apex-Clearing|name=PEAK6 and Penson Announce Formation of Apex Clearing|org=Press Release|date=July 27, 2012}}</ref>
  
 
== Key People ==
 
== Key People ==

Revision as of 15:12, 7 January 2014

CME-E-Mini PostLaunch Banner 728x90.jpg
Apex Clearing Corporation
Apex-clearing.png
Founded 2012
Headquarters Chicago
Key People Danny Rosenthal, CEO
Website apexclearing.com
Releases Company News

Apex Clearing Corporation is an independent clearing joint-venture between Peak6 Investments and Penson Financial Services. The firm plans to 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 firms' risk exposure. [1] 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. [2]

Key People

References

  1. Penson and PEAK6 to Form Apex Clearing. Securities Technology Monitor.
  2. PEAK6 and Penson Announce Formation of Apex Clearing. Press Release.