Nasdaq OMX Europe announced its first Sponsored Access partnership with Penson Worldwide, a provider of execution, clearing, settlement and custody and technology products.
Access will be available through its U.K.-based subsidiary Penson Financial Services to the Nasdaq OMX Europe multilateral trading facility (MTF). Through the partnership, firms will be able to access European blue chip stock trading without being direct members of Nasdaq OMX Europe.
In a statement, Charlotte Crosswell, President of NASDAQ OMX Europe, said, “We are delighted to be able to work with Penson as the first sponsoring participant for our new Sponsored Access service. We believe this is a mutual opportunity to offer an extremely competitive service in what we know is a keenly sought after space.”
Dan Weingarten, co-head of Global Sales and Marketing at Penson Worldwide, added, “The ability of Penson to provide NASDAQ OMX Europe Sponsored Access with no added latency presents a great opportunity for Penson to assist its 300 global correspondents expand their trading and product offering.”
Penson has plans to target it global clearing and execution services correspondents for the Sponsored Access.