Just wondering if anyone knows much about Penson Financial (completely unknown to me before today) and internal prop trading desks at the firm? All I know is they have a presence in TX. Thanks.
the Penson i know is a realtively large company that sepcializes in custody. dont know if it is the same.
Big Canadian firm, or at least I think they're Canadian, definately a large presence here anyways. Swifttrade clears through them I believe.
Penson is a large clearer that clears for many prop groups. I don't believe that they they run an internal prop desk. I know that they are very competitive on equitites pricing for groups that do volume. They are an American based company with some international subs. Best to do your own research: http://www.penson.com Cheers