Penson will offer trading firms executing on SmartPool, a solution that should reduce clearing and settlement costs through Penson’s offering of outsourcing and General Clearing Member (GCM) services, said SmartPool.
Lee Hodgkinson, SmartPool CEO and Head of European Sales & Relationship Management, NYSE Euronext, said today’s announcement reinforces SmartPool’s commitment to create a dark pool champion focused on attracting the largest and most diverse dark pool trading community in Europe.
PFSL CEO Clive Triance said Penson views this relationship as a way to efficiently expand its services to a significant number of European broker dealers.
"Penson is committed to building the best clearing and execution services firm in the world and providing cost effective solutions that enable clients to concentrate on trading, as opposed to building expensive infrastructure," Triance said.
