AltaCorp Capital chooses Penson as Canadian securities service provider

Source: Penson Financial Services Canada

Penson Financial Services Canada (PFSC), a member of the Penson Worldwide (NASDAQ: PNSN) group of companies and the leading independent provider of correspondent clearing services in Canada, announced today that it has entered into an introducing/carrying broker agreement with AltaCorp Capital, Canada's newest institutional financial advisory firm.

"We are pleased to be partnering with Penson, one of Canada's leading providers of execution, clearing, custody, settlement and technology infrastructure products to the industry," said George Gosbee, President and CEO, AltaCorp Capital Inc. "We are confident that our clients will be pleased with the full range of services and we look forward to working with Penson as our clearing broker to grow our business in the Canadian marketplace."

John Skain, President & CEO, PFSC, said, "Penson is excited to help another IIROC firm come to market. The strength of the Penson group's institutional platform, along with the support we can provide AltaCorp's business in both Canada and the US, will provide AltaCorp with a seamless platform on both sides of the border. Penson Canada has a strong commitment to firms across the country and is delighted to directly support the needs of AltaCorp Capital Inc."

As Canada's leading independent carrying broker, Penson offers custom, service-focused solutions that are both innovative and economically attractive. Such an adaptable product offering makes Penson a clear choice for a wide variety of financial institutions in the Canadian marketplace. AltaCorp Capital Inc. offers a full spectrum of value-added financial and advisory services to corporations in varied stages of development, including corporate mergers & acquisitions, equity financings, asset acquisitions & divestitures, institutional sales & trading and institutional equity research.


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