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Penson's Black Box Expansion

Traders Magazine, January 2005

Peter Chapman

Penson Worldwide, looking to strengthen its position in the black box market, bought historic market data distributor Tick Data. The U.S.'s sixth largest clearing and settlement firm will house the vendor within its recently acquired Nexa Technologies subsidiary. Nexa will market the data service to both Penson and non-Penson customers. "Tick Data takes us to the next level," says Eric Stoop, president of Nexa. "We've had a lot of the pieces [for black box trading], but now we can make a much larger push."

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