Investscape Inc. along with Penson Financial Services Inc. (PNSN) is pleased to announce the creation of an Institutional Department at Investscape to offer institutional clients the services that meet their specific needs. Whether a start-up hedge fund or an already established entity, Investscape offers services that rival the best of the larger firms, but will take the time to cater to your individual business. While offering customers cutting-edge technology, the firm takes further pride in providing an unprecedented level of support that has become scarce in today's data driven world.
1) DVP/RVP
Investscape / Penson Financial act as the “Executing Broker” in a Delivery vs. Payment / Receive vs. Payment (DVP/RVP) relationship:
Trades are executed at Investscape and can be sent to any clearing firm or agent bank. The chain of events that follows a trade is:
- Trade Date: Trades executed. Electronic confirms sent from Penson to clearing agent via DTC on the same day.
- Trade Date plus One (T+1): The Institution's clearing firm will receive all paper confirmations for review. Any auto-affirmations will be acknowledged and reported at this point if applicable.
- Trade Date plus Two (T+2): Await affirmation of trades.
- Trade Dates plus Three (T+3): Settlement occurs.
Investscape and Penson Financial DVP/RVP relationship benefits:
- Average pricing of same stock same side available.
- Multiple account functionality supported.
- Omnibus accounts available.
- Hands-on, friendly service and professional support.
Trades can be executed on any of Investscape's platforms OR directly through an API and be included in the normal batch upload and processing (no special limitations exist).
2) Prime Broker:
Investscape / Penson act as the “Prime Broker”:
Trades are offered away (at another broker/dealer) and delivered to Penson via DTC. With a Prime Broker relationship, no limits a placed on size, side, stock or even specific account (as can be with DVP/RVP). The executing (away) broker assigns the commission on the outgoing trade. Investscape takes the trade reports and posts the trade with a “clearance-only” fee.
Together with Penson Financial, Investscape has already established Prime Broker relationships with many of today's leading firms. Additionally, Investscape will establish immediate relationships for any added requests.
3) Institutional Order Desk:
In addition to tangible products Investscape offers a direct connection for professional institutional clients to get the professional support necessary in today's market environment.
Investscape Inc.
Institutional Desk Services:
- Direct relationships with all the major Exchanges available for execution and floor participation.
- Direct connectivity to most major ECNs and relationships with most major Market Makers.
- Immediate manual input of all Prime Broker trades, resolution of executing broker disparities and attentive catering to Institutional specific services.
- Friendly personalized service and professional order support from 8am to 6pm EST and 24-hour emergency contact service.
Custom reports and specific assistance tailored to your individual needs.
End of the day trade recaps via verbal, fax or e-mail.
"We have found that institutional business requires a certain level of personal service. A seamless transaction is achievable, with a dedication to service and the right people. In the best interest of the institution and the firm, our attention to details creates a momentum to facilitate an entirely seamless relationship” |
