Chicago, IL – July 28, 2016 – Wedbush Futures is pleased to announce that it has surpassed $1 billion in customer segregated funds. This accomplishment makes Wedbush Securities Inc. the seventh largest non-bank FCM and twenty-sixth largest overall FCM based on customer segregated funds.
As an FCM new to the business, the achievement of reaching this significant milestone demonstrates the level of trust and confidence the clients have instilled in Wedbush Futures. With this accomplishment, Wedbush Futures continues to build out its structure and solidify its foundation within the industry.
Joseph Signorelli, Head of Wedbush Futures, states, “Wedbush’s reaching the $1 billion plateau in client assets is a testament to the hard work and professionalism of the entire Futures Team. Our colleagues have done an outstanding job providing the premier services our clients demand. As we reach new milestones, we look forward to further strengthening our relationship with clients and exchanges.”
Wedbush maintains customer funds in segregated accounts in accordance with the Futures’ industry regulations. The purpose of customer segregated funds accounts is to safeguard customer funds. In addition, Wedbush Futures places a portion of its own funds on deposit with the client funds in order to maintain a targeted level of residual interest in its segregated accounts. Wedbush invests these funds in highly liquid, short-term maturity assets in accordance with industry regulations. The main investment vehicles utilized by Wedbush Futures include short-term US Treasuries, Money Market Funds, and cash deposits at clearinghouses and bank counterparties.
“In addition to maintaining strict financial safeguards and liquidity, our financial strength is further demonstrated by maintaining excess capital, which exceeds three times that required by the CFTC (as of June 30, 2016),” states M. Patricia (Patti) Kane, Chief Financial Officer of Wedbush Futures.
Wedbush Futures is a full service Futures Commission Merchant (“FCM”), providing futures execution and clearing services to the world's major Futures exchanges. Wedbush Futures supports a variety of clients, including non-clearing FCMs, Introducing Brokers, Professional Traders, Institutions, Commercial Hedgers, AP Users, and Individual Investors. Registered with the Commodity Futures Trading Commission ("CFTC"), Wedbush Futures is also a member of the National Futures Association ("NFA").
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Since our founding in 1955, Wedbush has been a leader in the financial industry providing our clients with a wide range of services; including institutional sales, correspondent clearing services, equity research, corporate and municipal finance, equity market making, fixed income trading, prime brokerage, and wealth management. Headquartered in Los Angeles, with nearly 100 registered offices, the firm focuses on dedicated service, client financial safety, continuity, and advanced technology. Wedbush Securities is the largest subsidiary of holding company WEDBUSH, Inc., which also includes affiliated firms.
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