âBecoming a member firm marks a major milestone for PFSI,â said Daniel P. Son, President of Penson Worldwide, Inc. âNYSE Euronext operates the worldâs largest and most liquid exchange group while offering the most diverse array of financial products and services. Membership significantly expands the products and services we can offer correspondents.â
PFSI provides flexible, technology-based processing solutions for the execution, clearing, custody and settlement of securities transactions. PFSI also offers a platform for registered investment advisors and provides prime brokerage services to hedge funds and other institutional investors.
âWe believe our NYSE membership will foster a greater presence for Penson around the world,â said Bill Yancey, CEO and President of PFSI. âNYSE has gone from focusing on U.S. equities to offering a broader array of services in futures, options, equities and fixed income as well as technology on an increasingly global scale. Over the past few years, Penson has similarly expanded its offerings to existing clients in order to reach a broader audience of correspondents, institutional broker/dealers and buy-side customers.â
NYSE member firms are regulated by FINRA (Financial Industry Regulatory Authority), the self-regulatory organization that was created through the consolidation of the NASD and the member regulation, enforcement and arbitration operations of the NYSE.