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Southwest Looks North

Dallas firm looks to grow its correspondent base

Traders Magazine, October 2008

Gregory Bresiger

Southwest Securities (SWS) is a midsize clearing firm with big plans. It recently added four new reps, expecting to attract bigger clients using a multi-pronged strategy. A big broker-dealer with some cachet in the Southwest, the Dallas-based company remains a relatively small clearing firm in much of the rest of the country. But SWS officials say they're about to make a stronger push in the Northeast, the Midwest and Canada, where they'll certainly butt heads with Penson Financial Services. SWS also expects to go after potentially disaffected clients at clearing firms bigger than Penson.

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