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PennHaven Brokerage Partners
PennHaven 2025 2024 2023 Global Difference to Global Coverage 6.83-- 6.25 0.58 Execution 6.33-- 6.20 0.14 Operations and Post-Trade 6.50-- 6.19 0.31 Relationship Management 6.83-- 6.15 0.68 Trade Decision Support 6.33-- 6.00 0.33 IPO Process and Allocations- 5.25- Onboarding 6.50-- 5.98 0.52 Client Services 7.00-- 6.15 0.85 Cost vs Value 7.00-- 5.99 1.01 Average 6.67-- 6.02 0.55
PennHaven Brokerage Partners debuts in our Outsourced Trading survey with a rating of Very Good. It should be noted that the sample size is smaller than most, with the threshold lower for new entrants. Based on the responses received, PennHaven beats the global average by 55 basis points. The firm was created by a spinout in 2024 from STP Investment Services and offers outsourced trading, middle- and back-office services, and includes third party, institutional grade OMS and TCA. There are two standout categories for this provider – Client Services and Cost vs Value – both of which achieve perfect scores of 7.00( Excellent). For Client Services, one respondent notes how PennHaven is“ very responsive to expanding capabilities to support our firms ' growth”. Respondents added specific praise for the provider’ s uptime, connectivity and its regulatory support. Cost vs Value( 7.00) beats the global average by an impressive 101 basis points, with one client suggesting that the firm“ should charge more for their great services!” Participants cited several reasons for rating this category as Excellent, with particular emphasis
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38 // Outsourced Trading Handbook // 2025
on the provider’ s commission structure, monthly charges, and cost transparency. While registering as PennHaven’ s joint-lowest score in the survey alongside Trade Decision Support, the category still scores a very strong 6.33( Very Good). Two-thirds of respondents rated Execution as Excellent. When asked to rank the categories in order of importance for considering a provider, Execution topped the list for PennHaven’ s clients. One respondent notes how the firm“ makes the trading experience one that you can count on every single time. Performance is incredible!” When it comes to Trade Decision Support( 6.33), two-thirds of clients rate this category as Excellent. The majority of PennHaven’ s respondents fall in the $ 0- $ 250 million range, while geographically they are all based in the US. Twothirds of clients rate the overall service from the provider as Excellent, and 100 % report that they would definitely recommend PennHaven to their peers in the industry. As one client summarises:“ Truly happy and satisfied”.