What is a Clearing Broker?
Clearing brokers are financial professionals who function as the line of communication between an investor and a clearing corporation. Part of the responsibilities of the clearing broker involves making sure that all documents associated with the transaction are in order. Brokers who function in this capacity tend to be detail oriented and excellent at research as well as managing any funds associated with the business deal. Many recognize the clearing broker as one of the most important components of the securities market. The broker will always work in the best interests of both the investor and the clearing house, making sure that any and all relevant information is presented before any purchase or sale takes place. Along with researching pertinent data, the clearing broker will also verify each detail and organize the information into a format that is logical and easy to understand. Once the investor wishes to execute an order, the clearing broker will work to make sure that all do
========================== Clearing brokers are often large firms that undertake, on behalf of smaller firms, to perform certain back-office and other services for the smaller broker firm, including carrying the customer accounts, ensuring money is paid from the buyer to the seller, owner documents are exchanged. Please ask Penson politely not to unwittingly keep LSRI/HLS in business by supporting The Vertical Group in any way, shape or form. Penson Financial Services ========================= http://www.pensonuk.com/ http://www.penson.com/ http://www.penson.ca/ Management ============== UK ======= Alan Philpot – Managing Director Tel:(044) (0)20 7549 1500 aphilpot@pensonuk.com Colin Thomas, Marketing Director Tel: (044) (0)20 7256 8988 cthomas@pensonuk.com Sharron Davey, Head of Sales and Marketing Tel:(044) (0)20 7549 1500 Fax:(044) (0)20 7336 8157 sdavey@pensonuk.com USA ======= Phil Pendergraft, Chief Executive Officer Tel: 214.765.1102 ppendergraft@penson.com Daniel P. Son, Presid
