TORONTO, Oct. 10, 2012 /CNW/ - Virtual Brokers, a division of BBS Securities Inc., ranked #1 for costs and innovation by Global and Mail in 2011 announced plans to become self-clearing.
"Self-clearing is a natural path for any successful brokerage firm. Our goal is to continue our ability to provide first class service with the lowest cost to our client. Virtual Brokers and BBS Securities Inc. would like to thank Penson Financial Service Canada Inc. and its employees for their support in the past four years. The "client-first" culture from Penson's employees was instrumental in our success. We are grateful for the relationship." said Bardya Ziaian, CEO and President of BBS Securities Inc. & Virtual Brokers.
"The transition will be seamless, smooth and there will be no interruption in our service to our clients. We are certain this will enable us to improve our service and keep our fees as low as possible", added Mr. Ziaian
Virtual Brokers' self-clearing transition is subject to regulatory approval.
About BBS Securities Inc. and Virtual Brokers:
BBS Securities Inc. ("BBS") is a member firm of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF). Virtual Brokers ("VB") is a division of BBS Securities Inc. VB is innovative, technology-driven and specializes in providing outstanding trade execution services to sophisticated traders, investors and money managers who demand excellence. In addition to a flexible commission structure, "All-in-One" Account (Equity/Option/Margin/Short), access to New Issues, strong Bond and Lending Desks, VB offers Direct Market Access (DMA), advanced Free Trading Platforms, Free Registered Accounts and customized Trading Algorithms.
SOURCE: Virtual Brokers
For further information:
about BBS Securities Inc. and Virtual Brokers, contact:
Chief Operating Officer