Clearing, Custody and Execution
Capitol Securities Management currently carries all accounts with, and executes most trades through Pershing, LLC. Pershing, LLC has been a leading global provider of financial business solutions for the past 70 years, and services many of the world’s most respected financial organization.
Pershing, LLC, with more than $770 billion in assets and its parent company, Bank of New York Mellon with $22.4 trillion in assets under custody and administration is ranked #1 as a United States clearing firm and #1 overall for NetX360® advisor platform and work station. It has the largest global outsourcing with clearance in more than 60 markets, order executions in 45 markets and foreign exchange in 50 countries. Pershing,LLC has more than 5,000 associates in 19 offices worldwide throughout North America, Europe, Asia and Australia. Pershing, LLC is a member of every major U.S. securities exchange.
In 2009, Pershing was named the No. 1 U.S. clearing firm as ranked by broker-dealer customers. Pershing’s customer brokerage statement was ranked number one in the industry for a second consecutive year. Pershing received the highest designation of "Excellent" and the top ranking among a field of 17 independent broker-dealers by DALBAR, Inc., the nation's leading financial services market research firm.
Customer Asset Protection
Capitol Securities Management is a member of SIPC which provides protection of $500,000 per customer, which includes $100,000 for cash claims. Pershing is a member of the Securities Investor Protection Corporation (SIPC®). For details, please see www.sipc.org. Please note that SIPC does not protect against loss due to market fluctuation.
In addition to SIPC protection, Pershing LLC also provides coverage in excess of SIPC limits through a private insurer, Lloyd’s of London. Coverage includes an aggregate loss limit of $1 billion for eligible securities—overall client accounts and a per-client loss limit of $1.9 million for cash awaiting reinvestment—within the aggregate loss limit of $1 billion. See www.pershing.com for more information.
