Introducing Broker and Clearing Broker Migrations
NAVIGATING THE BIGGEST CHALLENGES YOUR BROKER-DEALER MAY FACE:
SELECTING A CORRESPONDENT CLEARING BROKER?
The decision your introducing broker makes in selecting its clearing broker can easily be the “make or break” event that determines your firm’s stability and growth for years to come.
Simply put – We know these folks! We are familiar with all of the major correspondent clearing firms. We even know the second level players who aren’t as well known.
Our experience can help you successfully evaluate your options and find the right fit for your business model, culture, and budget.
Having managed firms from the top seat, we see the big picture. We understand the need to integrate and tailor your firm's specific model to support your trading, IT, FINRA compliance, accounting, financial advisors and business development.
SELF CLEARING FIRMS MOVING BACK TO AN INTRODUCING BROKER?
Maintaining a self-clearing broker-dealer status has become increasingly difficult, forcing some firms to reconsider the decision. Regulatory and technology issues have dominated the business for a decade, leading to an ever-shrinking number of broker-dealers, let alone self-clearing firms. Critically, securing the human resources talent needed to operate the back office has also become quite difficult in many regions, regardless of your budget.
The decision to move from a self-clearing platform and give up control to a correspondent clearing broker is not made lightly, and the related conversions are often difficult to successfully accomplish.
CONSIDERING BECOMING A SELF-CLEARING BROKER?
In days gone by, moving to self-clearing was considered the next logical step as a broker-dealer grew in size and complexity. While less frequent, self-control business issues and cost considerations still drive firms to internalize clearing and operational functions, while obtaining direct clearing and depository memberships.
The world of clearing and operations is our backyard. Our guidance and support is exceptional in this area. We have been privileged to develop a deep network with the major system and platform providers in this industry.