Our History
Penson GHCO opened for business on January 2, 1985 under the name Goldenberg, Hehmeyer & Co. (GHCO) as
a traditional futures and options clearing member at the Chicago Board of Trade. Our firm consisted of a
small but solid core of professional traders - all CBOT members - and a book of commercial grain hedgers.
The founding partners, Ralph I. Goldenberg and Christopher K. Hehmeyer, were both highly active in exchange
committee work, serving on the CBOT Board of Directors and as chairs for numerous committees and industry task
forces. Both had also previously served as Chairman of the Board for BTCC.
As GHCO entered the late eighties, the futures and options industry grew rapidly and the pits continued to
flourish. At one point during that period, GHCO had more than 225 floor traders and we added professional credit
and clearing services. These new GHCO services provided an understanding of the markets and of traders' needs, as
well as accurate statements and active, knowledgeable support people.
During the mid-nineties, GHCO became increasingly involved with the dramatic evolution in futures trading. This
evolution, fueled by technological advancements, fostered the move from open outcry to electronic trading. Early
on, GHCO understood the impact this new technology would have on our company, our clients and the industry as a
whole.
In 2007, Penson Worldwide, Inc. purchased the customer and clearing business of Goldenberg, Hehmeyer & Co. to
form a new company, Penson GHCO. The union of Penson and GHCO offers to our customers the resources and experience
of two industry leaders.
Penson GHCO is a thriving futures and commodities achiever, clearing an impressive number of contracts annually, but
that is not what defines us. Over the years, our combination of industry knowledge, experience and innovation has
shaped a distinctive forward-thinking vision for the future. Our focus remains squarely on our ability to anticipate
expectations and to deliver support on a highly individualized basis, while still retaining the company's original
values of integrity and professionalism. We believe that these values, along with our understanding of cutting-edge
technology, our flexible and responsive service and our passion for the industry, will continue to empower GHCO
clients and employees to succeed at the highest level.