Penson GHCO opened for business on January 2, 1985 as a traditional futures and options clearing member at the Chicago Board of Trade. 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. During the mid-1990s, Penson GHCO became increasingly involved with the dramatic evolution in futures trading. This evolution, fueled by technological advancements, assisted in the move to electronic trading. GHCO s focus remains on its ability to anticipate expectations and to deliver support on a highly individualized basis. Penson GHCO is headquartered in Chicago, with office locations in New York City, London and Minneapolis.