Penson Worldwide to launch Oz operation

Penson Worldwide, a provider of execution, clearing, settlement, custody and technology products and services to the global financial services industry, is set to launch Penson Financial Services Australia. PFSA will provide Australian brokerage firms with independent clearing and settlement of Australian financial products and access to trading on global financial markets. The Sydney-based company is scheduled to commence operations for customers during the second half of this year, subject