Penson Financial Services, a provider of execution, clearing, custody and settlement services for the global securities markets, has been selected by NASDAQ to provide options clearing services for Brutrouted 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 markets 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.