U.S. clearing firms ranked by broker-dealer clients
U.S. clearing firms ranked by broker-dealer clients Click column headers to sort fields…
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 | |
[email protected] | |
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 | |
[email protected] | |
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 | |
[email protected] | |
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 | |
[email protected] | |
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 [email protected] | |
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 | |
[email protected] | |
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 | |
[email protected] | |
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 | |
[email protected] | |
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 | |
[email protected] | |
(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 | |
[email protected] or [email protected] | |
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 | |
[email protected] | |
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 | |
[email protected] | |
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 | |
[email protected] | |
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 | |
[email protected] | |
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 | |
[email protected] | |
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 | |
[email protected] | |
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 |
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