TORONTO, Sept. 28, 2012 /CNW/ - Today, Questrade announced plans to
launch a self-clearing division by end of 2012. The new clearing unit
will replace its current carrying broker.
Edward Kholodenko, President and CEO of Questrade, said, "With a
self-clearing model, Questrade will provide our clients with a more
efficient and responsive brokerage experience. The transition to the
new unit will be seamless. Becoming a carrying broker is a natural
progression for the firm, given our continued growth and increased
A self-clearing (or carrying) broker provides clearing, settlement and
record-keeping services, such as transaction records, to its clients.
The self-clearing business unit of Questrade Inc. is pending regulatory
Questrade Inc. is a member firm of the Investment Industry Regulatory
Organization of Canada (IIROC) and the Canadian Investor Protection
Questrade Inc., headquartered in Toronto, provides Canadians with high-speed, direct
access trading in the U.S. and Canadian stock and options markets
through its IQ trading platforms, as well as forex trading. Since 1999,
the company has led the industry in delivering outstanding service,
exclusive products and services, and competitive pricing. This
commitment to innovation has appealed to independent investors, and for
the past two years, the company has ranked as Canada's fastest growing
online brokerage. In February, 2012, Questrade also earned the
designation as one of Canada's 50 Best Managed Companies.
SOURCE: Questrade Inc.
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