FNX Solutions has announced that Penson Financial Services Canada
has chosen the Sierra ASP solution to support its FX trading and
back office operations in Canada and the U.S. FNX, through its
web-based Sierra ASP software, will provide real-time straight
through processing, real-time margin utilization and position
management for Penson Canada and its clients. Utilizing FNXs
proprietary middleware platform, SierraLink, Penson Canada will
interface in real-time with a variety of electronic trading
platforms, achieving a seamless, automated and integrated
Electronically executed transactions and phone orders will
both be consolidated in real-time on the Sierra ASP platform.
Furthermore, Penson Canada will enhance its customer service by
delivering electronic statements to clients detailing all
transactions, margin utilization and P&L.