Saturday, 28 May 2016
Last updated 22 hours ago
Aug 27 2012 | 12:06pm ET
Cantor Fitzgerald, which launched a prime brokerage business three years ago, is expanding its suite of services for financial firms.
Cantor is planning Cantor Clearing. The new business will offer clearing services, of course, as well as settlement and technology solutions, the firm said, using SunGard's clearing and settlement solutions system.
Cantor Clearing remains subject to Financial Industry Regulatory Authority approval.
"The formation of Cantor Clearing will complement our comprehensive suite of products and services, and is a natural extension of our growing prime services platform," Noel Kimmel, who leads both Cantor Prime Services and Cantor Clearing, said. "By leveraging existing in-house capabilities, our robust global infrastructure, cross-asset expertise and SunGard's technology, we will provide a comprehensive solution tailored to the needs of middle market clients."