Pershing Clearing

Discussion in 'Prop Firms' started by patriciatrader, Jan 31, 2006.

  1. I want to know which Pro Firms make their clearing with Pershing??
  2. The list is humongous, Pershing is the largest correspondent clearing firm. what specifically kind of firm are you looking for?
  3. A Direct Access Broker Pro Firm. With excecution sytems like the Lightspeed, or Radical Pro
  4. I used to work for Pershing which is a division of Bank of New York Securities Corp. I know that Evolution Financial formerly known as Sonic utilizes their Bank of New York platform.

    Why are you interested exclusively in Pershing?
  5. I'm interested in Pershing because they give me margin over the following stocks: CFLCY and CFLPY. If any other Pro Firm and/or clering house can give margin on these stocks I'll move the there. Even if the margin is 80% of their value. (I have over a million worth in stock)
  6. What type of securities r those? I wastnt able to pull them up?

    Anyway all prop shops will give you leverage if that is what u r looking for usually 10:1 to 20:1.

    Do you just have a retail brokerage account with a correspondent who currently clears thru Pershing and r looking to trade your own account with a prop shop?
  7. 1. I'm sending you the bloomberg screen for the stock.
    2. I want to move the stocks to a broker that has an efficient daytrading platform and can margin the stock. My problem with pershing is that their platform is not for daytraders.
    3. I'm happy if a can gen 4:1 intraday and 2:1 overnight.