Terra Nova Financial LLC, a subsidiary of Terra Nova Financial Group, Inc., has been named “Broker of the Year for Emerging Managers” for the second consecutive year at Opal Financial Group’s 2008 Emerging Manager Summit. Terra Nova Financial is a specialized financial services firm focused on supporting trading professionals. Professional traders and hedge fund and money managers come to Terra Nova for unmatched value in execution, clearing and prime brokerage services.
The recognition originated with the firm’s role as the sponsoring broker-dealer for the innovative Archipelago ECN, and has been further earned through its proven mastery of the client experience. They were given this award based on a judging panel that included industry specialists from Opal Financial Group and leading institutional investors. The award was received before an audience of emerging managers, pension plans, and broker dealers.
In response to the award, Terra Nova Financial President Michal Nolan stated, “We are extremely honored to be recognized for the value we deliver to the emerging and active manager community. Receiving this award in successive years is especially rewarding, as it validates our continued focus on this segment of the market. We are committed to our core value proposition in this space: a balance of advanced trading technology platforms and personal, experienced customer support to drive a prime brokerage solution that is cost-effective for managers of all sizes.”
Steven Simmons, director of Prime Services also reflected on the award as it relates to the significant change in the prime brokerage industry. He stated, “Larger, more traditional prime brokerage firms are no longer interested in supporting the emerging managers, as it is viewed as unprofitable business. Terra Nova views this as a tremendous opportunity to distinguish ourselves as a company that partners in our clients’ growth. Knowing that many of our clients nominated us for the award is evidence that our dedication to the emerging manager is addressing a need and making a difference.”
On behalf of the award committee, Abe Wellington, CEO, Opal Financial Group stated, “Opal Financial Group is honored to have the opportunity to recognize Terra Nova Financial as the 2008 Broker of the Year for Emerging Managers. Steve Simmons and his team at Terra Nova have greatly contributed to newly established and emerging hedge fund managers.”
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