Apex Clearing Corporation
|Apex Clearing Corporation|
|Key People||William Capuzzi, CEO|
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.
The firm 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 Penson's and Peak6's risk exposure.  Peak6 will provide capital, the management team, day-to-day operational oversight, and risk management discipline necessary to run the business.
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. 
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.
- William 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
- ‘Disruptive’ Custodian. Financial Advisor.
- Penson and PEAK6 to Form Apex Clearing. Securities Technology Monitor.
- PEAK6 and Penson Announce Formation of Apex Clearing. Press Release.
- A fintech firm backing hot robo advisors like Betterment and Stash is planning to launch crypto custody services within the next few months. Business Insider.