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TradeStation Starts New Prime Brokerage Division
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By RINA Systems, Inc.
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Online brokerage TradeStation Group, Inc. said it will target small- and medium-sized hedge funds and investment advisers through its newly-started prime brokerage division.
TradeStation Prime Services division looks to tap the market of small- to medium-sized hedge funds and institutional investors who need services no longer being provided by the larger firms, Chief Executive Salomon Sredni said. The division will be co-headed by Lance Baraker and William Katts as senior managing directors. The new division expects to have its first accounts next month.
The company also said it will now have a full membership and direct access operation on the floor of the New York Stock Exchange for clients who make some of their trades on the NYSE floor. Shares of the Plantation, Florida-based company closed at $8.47 on Nasdaq Wednesday.
SOURCE TradeStation Securities, Inc.
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