As a member, PFSI will have the ability to clear for NYSE member firms. Currently, the Penson Worldwide, Inc. group of companies clears for approximately 300 correspondent firms.

"Becoming a member firm marks a major milestone for PFSI," said Daniel P. Son, President of Penson Worldwide, Inc. "NYSE Euronext operates the world's largest and most liquid exchange group while offering the most diverse array of financial products and services. Membership significantly expands the products and services we can offer correspondents."

PFSI provides flexible, technology-based processing solutions for the execution, clearing, custody and settlement of securities transactions. PFSI also offers a platform for registered investment advisors and provides prime brokerage services to hedge funds and other institutional investors.

"We believe our NYSE membership will foster a greater presence for Penson around the world," said Bill Yancey, CEO and President of PFSI. "NYSE has gone from focusing on U.S. equities to offering a broader array of services in futures, options, equities and fixed income as well as technology on an increasingly global scale. Over the past few years, Penson has similarly expanded its offerings to existing clients in order to reach a broader audience of correspondents, institutional broker/dealers and buy-side customers."

NYSE member firms are regulated by FINRA (Financial Industry Regulatory Authority), the self-regulatory organization that was created through the consolidation of the NASD and the member regulation, enforcement and arbitration operations of the NYSE.