Penson Futures, a division of Penson Financial Services, Inc, a registered Futures Commission Merchant providing execution and clearing services on the world’s major exchanges and a member of the Penson Worldwide, Inc. group (NASDAQ: PNSN), announced today that it is actively clearing Futures business on BM&FBOVESPA, Brazil’s leading financial exchange.
The BM&FBOVESPA is the second largest exchange in the Americas in terms of market value, and the largest in Latin America. The BM&FBOVESPA processing engine presents settlement differences from North American exchanges, and Penson Futures simplifies this process, transforming the trading activity at BM&F into easy-to-read statements.
Penson Futures CEO John Streich said, “Penson Futures clients requested access to and clearing of BM&FBOVESPA and we made it happen. Our involvement in Brazil will expand our clearing capabilities, exchange memberships and client services to further empower our valued clients.”
BM&FBOVESPA is based in Sao Paulo and was formed in 2008 through the merger of the Sao Paulo Stock Exchange and the Brazilian Mercantile and Futures Exchange.
About Penson Futures:
Penson Futures is a division of Penson Financial Services Inc., a registered Futures Commission Merchant and clearing member at the Chicago Mercantile Exchange, Chicago Board of Trade, New York Mercantile Exchange, Kansas City Board of Trade, Minneapolis Board of Trade, NYSE Liffe US, NYSE Euronext LIFFE, ONEChicago, ICE Futures Europe and ICE Futures USA.
About Penson Worldwide:
The Penson Worldwide group of companies provides execution, clearing, custody, settlement and technology infrastructure products and services to financial services firms and others servicing the global financial services industry. The Penson Worldwide group of companies includes Penson Financial Services, Inc., Penson Financial Services Canada Inc., Penson Financial Services Ltd., Nexa Technologies, Inc., Penson Asia Limited, and Penson Financial Services Australia Pty Ltd, among other companies. Headquartered in Dallas, Texas, Penson has served the clearing needs of the global financial services industry since 1995. Penson Worldwide - Building the Best Clearing and Execution Services Firm in the World.