London Capital Group, an online trading firm, has chosen Penson Financial Services Ltd (PFSL), the UK based clearing services subsidiary of Penson Worldwide, to provide fully disclosed (Model B) outsourced clearing services for its equities broking division.
“LCG is rapidly growing, and at the core of our decision to outsource to Penson was the requirement to select a firm which would be well placed to support our business as it continues growing,” said Frank Chapman, CEO of LCG, in a statement. “We were impressed not only with Penson’s technical capabilities, but also with their dedication to providing additional client support services to help our business.”