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Institutional Service
Institutional Services is tailored to
active Institutional traders who exceed 1,000 trades per month.
Elite clients receive flexible pricing and waived
fees, specialized direct access trading software
with advanced charting features, NASDAQ® TotalView®
market data, back office accounting, trade desk
execution, and a dedicated support team.
SpeedTrader offers institutional clients the
services that meet their specific needs. Whether a
start-up hedge fund or an already established
entity, SpeedTrader 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
SpeedTrader, the “Executing Broker” in a Delivery
vs. Payment / Receive vs. Payment (DVP/RVP)
relationship:
Trades are executed 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.
SpeedTrader 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 SpeedTrader's
platforms OR directly through an API and be included
in the normal batch upload and processing (no
special limitations exist).
2) Prime Broker:
SpeedTrader / 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. SpeedTrader takes the trade
reports and posts the trade with a “clearance-only”
fee.
Together with Penson Financial, SpeedTrader has
already established Prime Broker relationships with
many of today's leading firms. Additionally,
SpeedTrader will establish immediate relationships
for any added requests.
3) Institutional Order Desk:
In addition to tangible products SpeedTrader offers
a direct connection for professional institutional
clients to get the professional support necessary in
today's market environment.
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.
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 8:30am to 6pm EST and 24-hour emergency
contact service.
Custom reports and specific assistance tailored to
your individual needs. End of the day trade recap
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”
Contact Guy Gentile directly (845.494.5828;
guy@speedtrader.com ) for more information.
Apply online!
SpeedTrader also offers Financial Services that
cater to: hedge funds, pension funds, banks, family
offices, broker dealers, and portfolio mangers. For
more information, please
contact us.
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