Problems at Genesis?

Has anyone heard anything about Genesis Securities closing or at least eliminating their self-clearing operation?

 

http://www.elitetrader.com/vb/showthread.php?s=&threadid=208979&highlight=genesis

 

yes, they're clearing through penson now (ugh).

 

They've always had a clearing relationship with Penson in addition to their own services

 

My question actually concerned them remaining open. I've heard (but can't verify) that they were shutting down the BD.

 

ok, to clarify; they previously had a short list of about 7000+ stocks. after the change happened, they had the identical short list which penson provides on their other sites.

i'm not sure of the exact wording involved, but their short list used to have many more stocks which the penson-exclusive other sites did not have. now they're identical.

(and i'm looking to open another account at another brokerage which has a more robust short list; i have IB already).

 

Hi Gaj, how is Ib's short list compared to penson ? what other brokers have a good short list. i assume you dont like penson..lol