KBC Peel Hunt Clears It With Penson
FRONT PAGE: OPERATIONS AND STP
LONDON—If all goes as planned, Penson Financial Services Ltd., the U.K. arm of U.S.-based clearing services provider Penson Worldwide, will begin clearing for the U.K. agency brokerage/market maker KBC Peel Hunt this week.
The deal is the largest conversion that Penson has undertaken in the U.K., having displaced rival clearer Pershing, a division of the Bank of New York (BNY). Penson will clear for KBC's U.K. equities market-making and agency brokerage business lines.
A Pershing spokesperson
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