U.S. clearing firms ranked by broker-dealer clients
Click column headers to sort fields
| Rank | |
|---|---|
| 1 | Pershing LLC |
| Number of clients: 870 | |
| Contact: James T. Crowley, | |
| managing director | |
| One Pershing Plaza, Eighth Floor | |
| Jersey City, NJ 07399 | |
| Phone: (866) 269-8293 | |
| brokerage.info@pershing.com | |
| pershing.com | |
| Pershing is a global provider of clearing and financial services, and outsourcing solutions to retail and institutional financial organizations, and registered investment advisers, that collectively represent 5 million retail investors. | |
| 2 | National Financial Services LLC (Fidelity Investments) |
| Number of clients: 344 | |
| Contact: Norman R. Malo, | |
| president and chief executive | |
| 200 Seaport Blvd., Z2P | |
| Boston, MA 02210 | |
| Phone: (800) 752-7053 | |
| nationalfinancial.com | |
| National Financial Services offers correspondent broker-dealers clearing and execution products, and a broad array of investment solutions. | |
| 3 | Bear Stearns Securities Corp. broker-dealer services |
| Number of clients: 275 | |
| Contact: Joe Triarsi, | |
| senior managing director, | |
| or John Tyers, | |
| senior managing director | |
| 383 Madison Ave. | |
| New York, NY 10179 | |
| Phone: (212) 272-2000 | |
| bearstearns.com | |
| Bear Stearns Securities’ global- | |
| clearing-services division provides a range of products, services, experience and technology to support | |
| broker-dealers, including full access to Bear Stearns research; monetization, hedging and derivatives solutions; asset management; more than 10,000 mutual funds; prime brokerage; consolidated client statements; a range of retail products; clearance and financing of restricted securities; technology and training; and coordinated transfer of assets. | |
| 4 | Penson Financial Services Inc. |
| Number of clients: 250 | |
| Contact: Llynal Carey, vice president, global sales manager | |
| 1700 Pacific Ave., Suite 1400 | |
| Dallas, TX 75201 | |
| Phone: (214) 765-1100 | |
| lcarey@penson.com | |
| penson.com | |
| Penson Financial Services provides execution, clearing, settlement and custody services. Its facilities and services support active, proprietary and automated traders, full-service, discount and online brokers, registered investment advisers, bond dealers and wealth managers. | |
| 5 | Southwest Securities Inc. |
| Number of clients: 207 | |
| Contact: Steve Samberg, | |
| executive vice president, correspondent clearing | |
| and RIA sales | |
| 1201 Elm St., Suite 3500 | |
| Dallas, TX 75270 | |
| Phone: (214) 859-6776 | |
| ssamberg@swst.com | |
| swst.com | |
| Southwest Securities offers front- to back-office functions to a diverse group of correspondent broker-dealers. It provides correspondents with direct access to all their customer information. | |
| 6 | Goldman Sachs Execution and Clearing LP |
| Number of clients: 200 | |
| Contact: Jim Rogan, | |
| managing director | |
| 30 Hudson Street | |
| Jersey City, NJ 07302 | |
| Phone: (212) 357-4255 | |
| james.rogan@gs.com | |
| gs.com/electronictrading | |
| Goldman Sachs Execution and Clearing performs electronic execution via Rediplus and provides clearing and prime-brokerage services to the institutional and broker-dealer community. GSEC also houses the firm's American Stock Exchange exchange traded fund specialist business. | |
| 7 | RBC Dain Correspondent Services |
| Number of clients: 170 | |
| Contact: Shileen Groth, vice president | |
| 60 S. Sixth St. | |
| Minneapolis, MN 55402 | |
| Phone: (888) 462-1816 shileen.groth@rbcdain.com | |
| rbcdaincs.com | |
| RBC Dain Correspondent Services provides clearing services for firms of all sizes, and financial consultants that focus on private clients. | |
| 8 | First Clearing llc (Wachovia Securities LLC) |
| Number of clients: 125 | |
| Contact: David Williams, | |
| managing director | |
| Riverfront Plaza, West Tower | |
| 901 E. Byrd St. | |
| Richmond, VA 23219 | |
| Phone: (888) FCC-CLEAR | |
| firstclearing.com | |
| First Clearing’s correspondent services unit helps firms recruit and retain top financial advisers, raise average production, diversify revenue, promote fee-based programs and generate sales ideas through its product offerings, personalized service, technology, and operations and marketing support. | |
| 9 | Wedbush Morgan Securities (E*Capital Corp.) |
| Number of clients: 125 | |
| Contact: Jeff Martin, vice president | |
| of correspondent services, or Sean Thompson, sales representative | |
| 1000 Wilshire Blvd. | |
| Los Angeles, CA 90017 | |
| Phone: (213) 688-4567 | |
| jeff.martin@wedbush.com | |
| wedbush.com | |
| Wedbush Morgan Securities has offered its clients personalized clearing services for more than 35 years. | |
| 10 | Broadcort (Merrill Lynch) |
| Number of clients: 120 | |
| Contact: David P. Akellian, president | |
| 101 Hudson St. | |
| Jersey City, NJ 07302 | |
| Phone: (201) 557-2690 | |
| david_akellian@ml.com | |
| broadcort.com | |
| Broadcort, a division of Merrill Lynch, provides clearing and execution services for institutional broker-dealers worldwide. The firm provides products and services offering direct-market-access technology solutions. | |
| 10 | Ridge Clearing and Outsourcing Solutions Inc. |
| Number of clients: 120 | |
| Contact: Mike Clark | |
| 26 Broadway | |
| New York, NY 10004 | |
| Phone: (212) 918-6919 | |
| mike.clark@broadridge.com | |
| ridgeclearing.com | |
| Ridge Clearing offers a breadth of trade execution, clearing, custody, settlement, operations outsourcing and business expansion services to institutional broker-dealers, discount and full-service broker-dealers, and wealth managers around the world. | |
| 12 | Sterne Agee & Leach Capital Markets |
| Number of clients: 86 | |
| Contact: W. Dennis Ferguson, president, Sterne Agee Clearing | |
| 980 N. Federal Highway, Suite 108 | |
| Boca Raton, FL 33432 | |
| Phone: (800) 264-4863 | |
| dferguson@sterneagee.com | |
| (561) 373-3374 (cell) | |
| sterneagee.com | |
| Sterne Agee & Leach Capital Markets executes and clears transactions on a fully disclosed basis for its broker-dealer clients. | |
| 13 | First Southwest Co. |
| Number of clients: 75 | |
| Contact: Joseph Turk, regional vice president, or Paul Bashus, regional vice president | |
| 325 N. St. Paul, Suite 800 | |
| Dallas, TX 75201 | |
| Phone: Joseph Turk, (917) 206-3667, | |
| Paul Bashus, (402) 493-8793 | |
| jturk@firstsw.com or pbashus@firstsw.com | |
| firstswclearing.com | |
| First Southwest clearing services group provides fully disclosed clearing services to Financial Industry Regulatory Authority Inc. member firms for trade execution, clearing and back-office services. | |
| 13 | Mesirow Financial Holdings Inc. |
| Number of clients: 75 | |
| Contact: Ruth C. Hannenberg, | |
| senior managing director | |
| 350 N. Clark St. | |
| Chicago, IL 60610 | |
| Phone: (312) 595-6239 | |
| rhannenberg@mesirowfinancial.com | |
| mesirowfinancial.com | |
| Mesirow Financial serves five groups of clients: affluent individuals, small and midsize businesses, institutional investors, public-sector entities, and broker-dealers and investment advisers. It is an employee-owned private company with nearly 850 employees in 10 offices across the country. | |
| 15 | Legent Clearing LLC |
| Number of clients: 65 | |
| Contact: Bill Zelasko, executive vice president and principal | |
| 9300 Underwood Ave., Suite 400 | |
| Omaha, NE 68114 | |
| Phone: (402) 384-6123 | |
| bill.zelasko@legentclearing.com | |
| legentclearing.com | |
| Legent Clearing offers clients a back-office process for securities clearing, trade execution and settlement processing. | |
| 16 | North American Clearing Inc. |
| Number of clients: 61 | |
| Contact: John Busacca | |
| 1385 W. State Road 434 | |
| Longwood, FL 32750 | |
| Phone: (800) 599-4811 | |
| john@northamericanclearing.com | |
| northamericanclearing.com | |
| North American Clearing offers a one-stop shop for retail and institutional broker-dealers, including trade executions, instant connectivity to its back office and regular account updates to track and locate trades. | |
| 17 | Jefferies & Co. Inc. |
| Number of clients: 47 | |
| Contact: R. David Conover, | |
| senior vice president | |
| Harborside Financial Center | |
| 34 Exchange Place, Plaza 3 | |
| Jersey City, NJ 07311 | |
| Phone: (201) 200-1222 | |
| dconover@jefco.com | |
| jefferies.com | |
| Jefferies' clearing services unit processes more than 125,000 trades a day, with total shares averaging over 110 million daily. Its platform automatically matches trades throughout the day. It offers clients clearing capabilities in nearly 40 countries. | |
| 18 | Raymond James & Associates Inc. |
| Number of clients: 40 | |
| Contact: Robb Combs, director, correspondent services | |
| 880 Carillon Parkway | |
| P.O. Box 12749 | |
| St. Petersburg, FL 33733 | |
| Phone: (888) 752-5327 | |
| robb.combs@raymondjames.com | |
| raymondjames.com/clearing | |
| Raymond James & Associates provides fully disclosed or omnibus clearing to both U.S. and foreign broker-dealers. Included in the firm’s full range of products and services are online account access and trading. | |
| 19 | Emmett A Larkin Co. Inc. |
| Number of clients: 35 | |
| Contact: Sally Aelion, | |
| executive vice president | |
| 100 Bush St., Suite 1000 | |
| San Francisco, CA 94104 | |
| Phone: (415) 986-2332 | |
| info@elarkin.com | |
| larkinonline.com | |
| Emmett A Larkin provides both online and traditional full-service execution, clearing and custody services for other broker-dealers and investment advisers. | |
| Source: Source: InvestmentNews | |
