Penson Worldwide PNSN, and PEAK6 Investments, LP, today
announced the formation of Apex Clearing Corporation. Under the terms of the
agreement, Apex Clearing has agreed to acquire the correspondent and customer
accounts and contracts of the securities division of Penson's U.S.
broker–dealer subsidiary Penson Financial Services, Inc. (PFSI) which covers
approximately 230 U.S. based securities correspondents and one million
customer accounts. The agreement does not include Penson's Futures or Canadian
Operations. Apex Clearing is expected to begin operations in the coming days
following the completion of certain closing conditions and receipt of required
regulatory approval from the U.S. Securities and Exchange Commission and
FINRA.
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