Apex Clearing Corporation

From MarketsWiki
Revision as of 14:38, 7 February 2019 by SarahRudolph (Talk | contribs)

Jump to: navigation, search
Nyse-n.gif
Apex Clearing Corporation
Apex-clearing.png
Founded 2012
Headquarters Chicago
Key People William Capuzzi, CEO
Website apexclearing.com
Releases Company News

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.

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]

Apex Clearing, which offers clearing and custody services for robo advisors, is aiming to launch its crypto custody offering as soon as this month

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.