Penson Canada Buys D&D Unit
VENDOR UPDATE
MONTREAL—Outsourced clearing services provider Penson Financial Services Canada signed an agreement last week to take over the Canadian clearing business of Dominick and Dominick Securities (D&D), a North American securities dealer that has decided to exit the business.
D&D was previously a competitor of Penson in the Canadian clearing business. Penson in Canada, which has offices in Montreal and Toronto, declines to specify the value of the deal for D&D. Penson Canada is a wholly owned
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