First Clearing Correspondent Services
1-888-FCC-CLEAR, (804)782-3519 Riverfront Plaza, 901 East Byrd Street Richmond, VA 23219
Services: Unlimited potential. Clear thinking. The single most compelling business challenge today is no longer how to squeeze more from less. It’s how to profitably grow your business while maintaining a competitive market position. In an inherently complex industry, we are striving to add clarity and innovation built on an unmatched knowledge of the retail investment business. In fact, helping you find ways to better run, grow and protect your business is as much a part of our culture as precise transaction processing and proactive service. Our core competencies can help identify new operating efficiencies while our value-added services can help you remain competitive in the marketplace. Contact us to learn more about how we can provide clear thinking for your business.
Number of correspondents: 145
Correspondents: Retail
Parent company: Wachovia Corp.
Affiliate companies: Wachovia Securities
Contact: David Williams, Managing Director First Clearing Correspondent Services 1-888-FCC-CLEAR, (804)782-3519. Riverfront Plaza, 901 East Byrd Street Richmond, VA 23219 david.l.williams@firstclearing.com www.firstclearing.com
First Southwest Company Correspondent Clearing Services
325 N. St. Paul, Suite 800, Dallas, Texas 75201, (800) 678-3792, fax: (214) 953-8736, www.firstswclearing.com
Services: Fixed-Income Product Specialists. Founded in 1946, First Southwest Co. is one of the only privately held investment banking and correspondent clearing firms in the country. First Southwest utilizes the SIS back-office system, including FSAccess, an Internet-based front end that details real-time customer account balance and positions, cost-basis accounting, portfolio reports, performance reviews, contact management and a truly integrated platform for Registered Investment Advisors.
In addition, First Southwest has a real-time interface with Bloomberg that allows trades entered on clients’ Bloomberg terminal to post in real time directly to the back office. First Southwest can also accept uploads from other trading platforms, such as Brass. The firm can provide clients with complete Internet solutions, including trade confirmations, account statements, forms and reports via the Web.
Number of correspondents: 75
Parent Company: First Southwest Company
Correspondents: Retail and institutional broker-dealers
Contact: Paul Bashus, VP (866) 299-8755, pbashus@firstsw.com; Joe Turk, VP (866) 563-8875, jturk@firstsw.com
Goldman Sachs Execution & Clearing, L.P.
30 Hudson Street, Jersey City, NJ 07302, (212) 357-2266, gsec.gs.com
Services: Goldman Sachs Execution & Clearing, L.P. offers a fully integrated Execution, Clearing and Prime Brokerage product suite that provides tools and services to reduce the burden of clearing trades. Our client base includes all types of Institutional Broker Dealers, Institutions, and Hedge Funds, with a special focus on statistical arbitrage, quantitative, and high frequency strategies. Our global platform reaches over 35 countries across multiple asset classes. As a result, clients can focus on maximizing their trading strategy, building business and attracting new sources of capital. Whether a client executes and clears with us, or simply clears, they gain access to our global clearing capabilities, risk management services, stock loan capabilities, and sophisticated, robust clearing technology. In addition, clients can take advantage of the direct link between our execution and prime brokerage platforms. The result is seamless integration that delivers optimal results – without affecting daily workflow. Some of the products and services include: Custody Reporting, Portfolio Accounting/Tax Reporting, Performance Reporting, Alternative Financing Options (where available), Securities Lending, Risk Analysis, and Capital Introduction and Consulting Services. Goldman Sachs provides clients with the necessary execution tools and services to manage the investment process from start to finish, from pre-trade analysis to post-trade consulting. Clients access our global offering via REDIPlus and FIX, available for trading global equities, options, futures, foreign exchange and swaps. Customers can seek liquidity using our suite of multi-asset algorithms, route to optimal destinations using SIGMA router and take advantage of one of the largest U.S. crossing network, SIGMA X.
Number of correspondents: 200+
Correspondents: Institutional
Parent company: Goldman Sachs
Contact: Kyle Czepiel, Managing Director, (212)357-2802, kyle.czepiel@gs.com
LPL Financial Custom Clearing Services
9785 Towne Centre Drive, San Diego, CA 92121 Phone: 800-877-7210 Website: lpl.com
Services: LPL Financial has achieved its status as the largest independent broker/dealer in the country* through an undeviating commitment to a conflict-free and customer-focused business model. Throughout the years, LPL Financial has made substantial investments in building out its capabilities to offer industry leading technology, training, service, and unbiased research to financial advisors, financial institutions, and institutional clearing clients.
Throughout the process of building a world-class independent broker/dealer, LPL Financial has gained invaluable expertise in the clearing, technology, compliance, and customer service functions. Armed with these valuable systems and best practices, LPL Financial created Custom Clearing Services.
For leading financial services companies looking to increase financial advisor productivity, lower development and operating costs, and mitigate compliance risk, Custom Clearing Services is the solution. Custom Clearing Services delivers a superior outsourcing proposition that enables customers to take their broker/dealer business to the next level.
*As reported by Financial Planning magazine, June 1996-2009, based on total revenue.
Parent Company: LPL Financial
Contact: Marc Ravenscroft, Vice President, (800)877-7210, ext.7329., marc.ravenscroft@lpl.com
National Financial
200 Seaport Blvd., Z2P, Boston, MA, 02210 Phone: 1-800-752-7053 www.nationalfinancial.com
Services: National Financial, a Fidelity Investments company and the second largest provider of clearing and custody services to approximately 300 client firms representing over $440 billion in assets under administration (as of September 30, 2010), offers firms access to a comprehensive clearing platform, inclusive of a dedicated service model, a powerful global trading platform, and a source of leading investment solutions, all designed to help them grow confidently. National Financial’s comprehensive offering enables it to serve broker-dealers of various types and sizes that can serve your evolving needs. In addition to being a leading clearing provider in the U.S. for nearly 30 years, National Financial leverages the strength and experience of Fidelity Investments, one of the world’s largest providers of financial services. For more information about National Financial, please visit www.nationalfinancial.com.
Number of correspondents: ~300
Parent company: FMR LLC
Contact: (800)-752-7053
BMO Nesbitt Burns
1 First Canadian Place, P.O. Box 150, Toronto, Ont., Canada M5X 1H3 Phone: (416) 359-4000
BNP Paribas Securities Corp.
787 Seventh Avenue, New York, NY 10019 Phone: 212-471-8114
BNY ConvergEx Group
Wholesale Services 1633 Broadway New York, NY 10019 Phone: 212-468-7625
Broadcort, Bank of America Merrill Lynch Global Markets
101 Hudson Street, 10th Floor, Jersey City, NJ, 07302 Contact, Michael Bird, Phone: (646) 855-3507
Correspondent Network
250 Yonge Street P.O. Box 19, Toronto, Ontario, Canada M5B 2L7 Phone: (416) 869-6695
The Depository Trust & Clearing Corporation
55 Water Street, New York, NY 10041 Phone: (212) 855-1000
Interactive Brokers Group LLC
Two Pickwick Plaza Greenwich, CT. 06830 Phone: (203) 618-5991
JP Morgan Clearing Corp
1 Chase Manhattan Plaza – 50th Floor New York, N.Y. 10005 Phone: (212) 552-1765
Legent Clearing LLC
9300 Underwood Ave., Suite 400, Omaha, Neb. 68114 Phone: (402) 384-6100
Legg Mason Wood Walker
100 Light St., Correspondent Clearing Services, Baltimore Md., 21203-1476 Phone: (410) 580-7373
Lek Securities Corp.
One Liberty Plaza, 52nd Floor New York, N.Y. 10006 Phone: (212) 509-2300
Man Securities
440 South LaSalle, 20th Floor Chicago Ill. 60605 Phone: (312) 663-7720 or (800) 899-4525
Mesirow Financial B/D and IA Services
350 North Clark Street Chicago, IL 60610 Phone: (888) 353-7788
Neuberger Berman, LLC
605 Third Avenue, New York, NY 10158, Phone: (877) 621-7427
Newedge Group
630 Fifth Avenue, Suite 500 New York, NY 10111 Phone: (646) 557-8382
North American Clearing
(Formerly Advantage Trading Group) 1385 West State Rd. 434 Longwood, Fla. 32750 Phone: (800) 599-4811
Oppenheimer & Co.
125 Broad St., New York, N.Y. 10004 Phone: (212) 668-8000
Penson Worldwide, Inc.
1700 Pacific Avenue, Suite 1400, Dallas, TX 75201 Phone: 800.696.3585
Pershing LLC
One Pershing Plaza, Jersey City, N.J. 07399 Phone: 866.269-8293
Raymond James & Associates
880 Carillon Parkway, P.O. Box 12749 St. Petersburg, FL. 33733-2749 Phone: (888) 752-5327
RBC Correspondent Services
60 South 6th St., Minneapolis, Minn. 55402, Phone: (888) 462-1816
Southwest Securities
1201 Elm Street, Dallas, TX 75270 Phone: 877-797-6613
Sterne Agee Clearing
Division of Sterne Agee Capital Markets 800 Shades Creek Parkway, Suite 580, Birmingham, Ala. 35209 Phone: (800) 264-4863
Wedbush Securities
1000 Wilshire Blvd., Los Angeles, CA 90017 Phone: (213) 688-4567 Fax: (213) 688-6692
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