Requirements for Brokerage Services
There are investment program opportunities for brokerage services that are available to firms who meet certain requirements:
- Firms must be duly registered as Broker/Dealers and be in good standing with the Securities and Exchange Commission;
- Firms and their designated agents must be members in good standing with the National Association of Securities Dealers, (now known as the Financial Industry Regulatory Authority);
- Firms and their designated agents must be registered and in good standing with the Texas State Securities Board;
- Firms must have a history of serving institutional clients for a minimum of three years;
- The firm or its executing broker and the clearing agent must each have minimum excess net capital of $2.5 million.
- Firms must demonstrate an ability to add value to the investment process.