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SmartPool welcomes Penson Financial Services to their European dark...

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  • Penson to offer low-cost access to SmartPool through an all in-one execution, clearing and settlement solution
  • Expanding SmartPool’s reach into Continental Europe

Amsterdam, Brussels, Lisbon, London, Paris, 9 February 2011, SmartPool, the European dark liquidity pool created by NYSE Euronext in partnership with HSBC, J.P.Morgan and BNP Paribas, today confirmed Penson Financial Services Ltd, (Penson), the London-based clearing unit of Penson Worldwide, Inc. (PNSN), as the latest member of the European dark pool. 
Penson will offer trading firms executing on SmartPool, a solution that should significantly reduce clearing and settlement costs through Penson’s offering of outsourcing and General Clearing Member (GCM) services.  Penson’s membership of SmartPool will thus allow a wider range of participants to trade on SmartPool without the need for major infrastructure build. 

Lee Hodgkinson, SmartPool CEO and Head of European Sales & Relationship Management, NYSE Euronext commented:
“Today’s announcement reinforces our commitment to create a dark pool champion focused on attracting the largest and most diverse dark pool trading community in Europe.  
As one of the leading brokers on NYSE Euronext’s US Cash Markets, we are delighted to introduce Penson’s global services to our European trading community.  By leveraging NYSE Euronext’s transatlantic franchise and substantial client distribution network, no other market operator can match our scale and this advantage is difficult for our rivals to replicate.”

Clive Triance, PFSL CEO, commented: 
“Penson views this relationship as a way to efficiently expand our services to a significant number of European broker dealers.  Penson is committed to building the best clearing and execution services firm in the world and providing cost effective solutions that enable clients to concentrate on trading, as opposed to building expensive infrastructure. 
We look forward to forming a long-term working relationship with SmartPool to the benefit of all."

For more information, please contact
London: +44 20 7379 2789

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About Euronext 
Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With nearly 1,900 listed issuers and around €6.3 trillion in market capitalisation as of end September 2024, it has an unmatched blue-chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.  
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