Penson Financial to provide clearing services to Nasdaq's Brut

Source: Penson Financial Services

Penson Financial Services, a leading provider of execution, clearing, custody and settlement services for the global securities markets, is very pleased to work with NASDAQ to provide options clearing services for Brut–routed options.

"Penson is very pleased that NASDAQ has selected us to clear and execute option trades for their customers. We believe that our technology and flexible approach will provide significant advantages," said Daniel P. Son, President, Penson Worldwide, Inc.

"We are delighted to be working with an organization that is so committed to market leadership and innovation. We believe that our flexible approach to clearing aligns very well with the largest U.S. electronic stock market's desire to expand into options routing. We view this as a strategic opportunity for our organization, and look forward to helping NASDAQ provide low-cost trading solutions for its customers," said Bill Yancey, President and CEO of Penson Financial Services, Inc.

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