The largest clearing firms for broker-dealers

Ranked by number of broker-dealer clients

Jul 15, 2012 @ 12:01 am

  
Rank Firm Website # of clients % change vs. 2011 Contact Phone Email
1 Pershing LLC pershing.com 831 -0.6% James T. Crowley, managing director (201) 413-2564 brokerage.info@pershing.com
2 National Financial Services LLC nationalfinancial.com 276 -5.2% Joe Kelly, head of sales (617) 563-8738 joseph.kelly.nf@fmr.com
3 J.P. Morgan Clearing Corp. jpmorgan.com/bds 238 12.8% Curt Richmond, managing director (212) 552-1765 curt.richmond@jpmorgan.com
4 Broadcort & Merrill Lynch Professional Clearing Corp. broadcort.com 214 -16.1% Michael Bird, managing director at Broadcort; Gary Yetman, managing director at MLPro (646) 855-3507; (646) 743-1222 m.bird@baml.com; gary.yetman@baml.com
5 RBC Correspondent Services* rbc-cs.com 180 5.9% Craig Gordon, director (612) 371-7776 craig.gordon@rbc.com
6 Wedbush Securities Inc. wedbush.com 160 0.0% Sean Thompson, senior vice president of advanced clearing services (213) 688-4567 sean.thompson@wedbush.com
7 Southwest Securities Inc. swsclearing.com 157 -4.8% Anton Berends, head of clearing services (214) 859-9310 aberends@swst.com
8 Goldman Sachs Execution and Clearing LP** gsec.com 150 -14.3% Kyle Czepiel, managing director (212) 357-2802 kyle.czepiel@gs.com
9 Sterne Agee Clearing Inc. sterneagee.com 112 1.8% Dennis Ferguson, vice chairman (800) 264-4863 dferguson@sterneagee.com
10 First Clearing LLC firstclearing.com 90 -3.2% David L. Williams, managing director (888) 322-2532 david.l.williams@firstclearing.com
11 FirstSouthwest Co. firstswclearing.com 80 6.7% Joseph Turk, regional vice president; Paul Bashus, regional vice president (917) 206-3667; (866) 299-8755 joe.turk@firstsw.com; paul.bashus@firstsw.com
12 Legent Clearing LLC legentclearing.com 73 -8.8% Steve Dripchak, vice president of sales (866) 770-0218 steve.dripchak@legentclearing.com
13 Raymond James & Associates Inc. raymondjames.com/clearing 39 2.6% Robb Combs, director of correspondent services (727) 567-3990 robb.combs@raymondjames.com
14 LPL Financial Custom Clearing Services lpl.com 5 -28.6% David Akellian, executive vice president and head of custom clearing services (858) 450-9606 ext. 6865 david.akellian@lpl.com
In June, Apex Clearing agreed to acquire the correspondent and customer accounts and contracts of the securities division within Penson's U.S. broker-dealer subsidiary, Penson Financial Services Inc. Apex declined to participate in the survey. As of June 30. *On March 2, RBC Correspondent Services acquired Mesirow Financial Inc.'s clearing business. Number of clients reflects acquisition. **Number of clients is a company estimate Source: InvestmentNews Data

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