Penson to offer brokers Titan social media trading signals tech

Source: Penson Financial Services

Penson Financial Services, Inc. (PFSI), the US securities clearing unit of Penson Worldwide (NASDAQ: PNSN), today announced that it has entered into a revenue-sharing agreement to offer Titan Trading Analytics (TSX VENTURE: TTA) TickAnalyst signals to PFSI's retail and institutional correspondent brokerage firms.

This is the first of what is anticipated to be a series of new value added services planned for Penson correspondents. Penson had 430 correspondents as of year end 2010. Titan is a leading provider of behavioral trading research.

TickAnalyst's proprietary algorithms analyze historical equities tick data, combined with social media sentiment, to generate buy/sell recommendations. Recommendations can be streamed via PFSI's API or Titan's browser application. Orders can be electronically executed through PFSI's FIX Gateway.

"This is the first time retail brokers will be able to provide customers with quantitative trading signals that incorporate social media sentiment," said Sean Malloy, Senior Vice President & Director of Global Sales & Marketing, Penson Worldwide. "It also is the first time independent institutional brokers will be able to provide clients with a signal service at a far more economical price than buying it from bulge bracket brokers or developing one in-house. We believe it will be particularly appealing to our active retail and high volume institutional brokers."

"Titan's analysts have spent tens of thousands of hours devising and optimizing our trading strategies, which have generated positive returns in 76% of all months over the last six years," said John Coulter, President & CEO of Titan. "They factor in a wide range of trader emotions, help users steer clear of human pitfalls, and can be tuned for intraday, swing or portfolio style traders. We cover all stocks in the S&P 500, Russell 2000 and S&P/TSX composite indices. We'll initiate on European stocks by mid-year."

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