Securities trading and processing outfit Penson Worldwide has acquired California's Computer Clearing Services, extending its global correspondent customer base to over 225 clients.
Following the acquisition, CCS correspondent clients will have access to Penson's portfolio of products and services, from direct market access execution, OMS, historical and real-time market data to clearing, custody and settlement services. The deal also offers CCS clients a window to futures and currencies trading, international markets and proprietary trading platforms.
The deal is expected to close during the third quarter of 2005. Financial details were not disclosed.