Penson Financial signs for FNX's Sierra ASP technology

Penson Financial signs for FNX's Sierra ASP technology

Penson Financial Services Canada has licensed FNX Solutions' Sierra ASP platform to support its FX trading and back office operations in North America.

Philadelphia-based FNX says the browser-based software will provide real-time STP processing and margin utilisation along with position management for Penson and its clients.

Electronically executed transactions and phone orders will be consolidated in real-time and clients will be able to receive e-statements detailing transactions, margin utilisation and P&L.

The vendor says the SierraLink middleware will also enable Penson to interface with various e-trading platforms.

Ray Krastins, director, North American sales, FNX comments: "The end result is that traders and risk managers will see the risk, position and profit and loss impact of all of their trades, regardless of source, in one place, in real-time, allowing them to make better, more profitable trading decisions."

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