Penson Worldwide, Inc. Completes Acquisition of Futures Clearing Business of Goldenberg, Hehmeyer & Co.; Re-Names Unit Penson GHCO.DALLAS -- Penson Worldwide, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : PNSN), a leading provider of execution, clearing and technology for global financial markets, announced completion of the acquisition of all of the partnership interests of privately-held Goldenberg, Hehmeyer & Co. (GHCO), a futures clearing and execution business, and the distribution of its proprietary trading business to one of its former general partners. GHCO is based in Chicago, IL and is one of the leading futures commission merchants (FCMs) in the U.S. Penson expects the business, which has been re-named Penson GHCO, will be slightly accretive in 2007 after financing costs. The proprietary trading business of Goldenberg, Hehmeyer, which has become an independent company, has signed a four-year clearing agreement with Penson GHCO. Penson GHCO will enhance Penson Worldwide's capabilities and capacity in futures clearing, in line with the Company's strategic plans. Penson GHCO, a leading provider of technology products and services to active futures traders, currently employs about 85 people at its Chicago headquarters and in New York, Minneapolis and London offices, and serves approximately 400 clients, including floor traders, introducing brokers, non-clearing FCMs, commercial grain companies and other institutional and professional trading firms. Penson GHCO clears through the Chicago Board of Trade Chicago Board of Trade (CBOT) The second largest futures exchange in the US, and a pioneer in the development of financial futures and options. (NYSE NYSE See: New York Stock Exchange : BOT), the Chicago Mercantile Exchange Chicago Mercantile Exchange (CME) Chicago Mercantile Exchange (CME) is the largest futures exchange in the United States and the second largest exchange in the world for the trading of futures and options on futures. (NYSE: CME), LCH Clearnet and the Minneapolis Grain Exchange. Ralph Goldenberg, a current co-chairman of GHCO, has become Vice Chairman of Penson GHCO, and Chris Hehmeyer, also a co-chairman of GHCO, has become President and CEO of Penson GHCO. About Penson Worldwide: www.penson.com The Penson Worldwide group of companies provides execution, clearing, custody, settlement, and technology infrastructure products and services to financial services firms and others servicing the global financial services industry. The Penson Worldwide group of companies includes Penson Financial Services, Inc., Penson Financial Services Canada, Inc., Penson Financial Services Ltd., Nexa Technologies, Inc., Penson Financial Futures, Inc. and Penson GHCO among other companies. Headquartered in Dallas, Texas, Penson has served the clearing needs of all types of broker/dealers since 1995. Penson is The Flexible Choice in Global Financial Services. Penson Financial Services, Inc. is a member of the Chicago Stock Exchange Chicago Stock Exchange (CHX) A major exchange trading only stocks, with 90% of trades taking place on an automated execution system, called MAX. , the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). , Inc., the Chicago Board Options Exchange Chicago Board Options Exchange (CBOE) A securities exchange created in the early 1970s for the public trading of standardized option contracts. Primary place for the trading of stock options, foreign currency options, and index options (S&P 100, 500, and OTC 250 index) , OneChicago, the International Securities Exchange, the NYSE Arca Exchange, the Options Clearing Corp, the MSRB MSRB See Municipal Securities Rulemaking Board (MSRB). , NSCC, ICMA, DTC, Euroclear, SIPC and is a participant of the Boston Options Exchange (BOX). Penson Financial Services Canada, Inc. is a participating organization with the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. , the Montreal Exchange, the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. , is regulated by the Investment Dealers Association of Canada, and is a member of the CIPF. Penson Financial Services, Ltd. is a member of the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. and is authorized and regulated by the Financial Services Authority. Penson Financial Futures, Inc. is a registered Futures Commission Merchant. Penson GHCO is a registered Futures Commission Merchant and clearing member at the Chicago Mercantile Exchange, Chicago Board of Trade, London International Financial Futures Exchange, Intercontinental Exchange, and International Petroleum Exchange. Forward-Looking Statements Statements contained in this news release that are not based on current or historical fact are forward-looking in nature. Such forward-looking statements are based on current plans, estimates and expectations. Forward-looking statements are based on known and unknown risks, assumptions, uncertainties and other factors. Penson's actual results, performance, or achievements may differ materially from any future results, performance, or achievements expressed or implied by such forward-looking statements. Penson undertakes no obligation to publicly update or revise any forward-looking statement. |
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