Global Trading

Penson Financial has established a reputation for providing fast, accurate, cost-effective executions for both retail and institutional orders. Penson Financial benefits from a vertically integrated system of order flow, and passes those efficiencies on to our clients. Our partnership extends to major affiliations on the NYSE and OTC markets. It gives Penson Financial added strength in ensuring the best pricing and most efficient floor brokerage processing of listed equities. We make markets in over 350 blue chip companies.

Through our DNS system, all orders are captured and routed to the appropriate points of execution. The DNS system is composed of a message switching subsystem and an order match subsystem, with automated interfaces to DOT, BRASS and other outside systems. Penson Financial allows for full electronic handling of orders and executions with minimal manual intervention.

Penson's Trading Department is divided into five sections:

  • Correspondent Desk - This desk handles any trade orders from correspondents who have experienced a temporary system interruption and cannot enter orders directly. This desk also takes orders from correspondents who do not have their own electronic access and then reports the trade information back to the correspondent.
  • Network Desk - Handles any P&S Department discrepancies, as well as correspondent issues pertaining to order executions. This desk also sends out notices on stock splits and dividend adjustments, and documents "as of" trades.
  • Institutional Desk - Consists of professionals who provide execution services for large block orders for institutional clients, as well as high- net-worth individuals for all Ridge Clearing correspondents.
  • Fixed Income Desk - Handles trade orders for municipal, corporate, and government bonds. This desk also coordinates new issue offerings for our correspondents.
  • Options Desk - Provides special handling of large (over 50 contracts) or unusual option orders and directs all spread orders to the proper exchange. This desk also directs orders of multiple listed options to the desired exchange at the request of the customer. It handles all option-related trade and clearance problems.