Penson Worldwide, a provider of clearing, custody, and settlement services, is launching an electronic multi-market, multi-instrument trading system for its European client base.
The service comprises of a hosted order management system that covers the execution, clearing, custody and settlement of all European equities, exchange-traded derivatives and CFD Swaps.
Exchange connectivity is provided by the client's own exchange membership and via multi-market direct access software in partnership with RTS Realtime Systems. Clearing, settlement and custody is provided by Penson's established service.
Chris Gregory, director of execution services, Penson Worldwide, says "We wanted to provide our global client base with a 'one stop shop' trading solution that simplifies the processes within the increasingly sophisticated worlds of agency trading, as well as risk arbitrage, hedge fund and programme trading, and further improving straight-through processing."