Integrate with Pershing LLC through ZagTrader

Who is Pershing LLC?

Pershing LLC is a US-based provider of securities clearing, custody, and back-office services, and is part of BNY. It is widely recognized as one of the largest correspondent clearing firms, supplying the regulated post-trade infrastructure that sits behind a very large number of broker-dealers and registered investment advisers (RIAs). Rather than positioning itself primarily as a destination for execution, Pershing operates as the back end of the brokerage: it clears and settles trades, safeguards client assets in custody, and runs much of the account servicing, statementing, and asset-movement machinery that an introducing firm relies on.

For introducing brokers, RIAs, and wealth platforms, this division of labor is central. A firm can own its client relationships, advice, and front-end experience while relying on Pershing to perform the capital-intensive, regulated functions of clearing and custody at scale. Reaching that infrastructure through stable, well-structured, and well-monitored integration is a practical requirement for any business built on top of it, and that is the role ZagTrader is designed to fill on the order-management and post-trade side.

How ZagTrader integrates with Pershing LLC

ZagTrader connects to Pershing through API and FIX integration, so that orders, account events, allocations, and post-trade messages flow over resilient, monitored links rather than manual files or one-off scripts. The integration is delivered as part of ZagTrader's Order Management System (OMS) and Execution Management System (EMS), giving introducing brokers and platforms a single place to capture orders, apply pre-trade compliance and risk checks, and service accounts before activity is passed downstream to the clearing and custody layer.

Because order management, account servicing, and post-trade processing share one platform, data does not have to be re-keyed or reconciled across brittle hand-offs. Activity routed for clearing and settlement at Pershing is mirrored on the ZagTrader blotter and in the firm's books and records, keeping the front-end view and the cleared, custodied reality aligned in near real time.

• API and FIX integration for orders, allocations, and post-trade messaging.
• Single OMS/EMS blotter spanning order capture through post-trade.
• Pre-trade compliance and risk checks applied before activity is passed downstream.
• Account and position data mirrored between ZagTrader and the clearing layer.
• Automated data flow that removes manual re-keying and brittle file hand-offs.

Clearing, custody, and settlement at scale

Clearing, custody, and settlement are the functions where Pershing's role is most distinct, and where ZagTrader's integration is focused. Once an order has been captured and worked, the trade must be cleared, the resulting positions and cash safeguarded in custody, and the obligations settled through the relevant US market infrastructure. Pershing performs these regulated functions at scale on behalf of the broker-dealers and advisers it serves; ZagTrader's responsibility is to manage the order and post-trade data flow accurately around that process.

Through the integration, trade details and allocations are passed for clearing, while position, balance, and corporate-action data flow back so that the platform's records reflect what is actually held in custody and settled. This keeps a firm's internal books and records consistent with the clearing and custody platform without manual intervention. Settlement itself takes place through Pershing and the market infrastructure it connects to; ZagTrader ensures the surrounding order, allocation, and reconciliation data is complete, timely, and audit-ready.

• Trade and allocation details passed downstream for clearing.
• Custodied positions, balances, and cash kept aligned with the platform's records.
• Settlement obligations handled through the clearing provider and market infrastructure.
• Corporate-action and position updates reflected back into books and records.
• Reconciliation against clearing and custody data built into the workflow.

Reconciliation and reporting

Operating on top of a clearing and custody provider only works if the front-end records and the cleared, custodied data agree. ZagTrader is built to reconcile activity against Pershing's records continuously, comparing orders, allocations, positions, balances, and settlement status so that breaks are surfaced early rather than discovered at period end. Because the same platform runs from order inception through post-trade, reconciliation draws on a single source of truth instead of competing copies of the data.

That consistent foundation also feeds reporting. Client statements, position and activity reports, and audit-ready record keeping are produced from the same data that runs the trading and post-trade workflow, helping firms meet their internal-control and regulatory obligations. For introducing brokers and advisers that must answer to both their own clients and their regulators, having execution, custody, and clearing data converge in one reconciled, reportable system materially reduces operational risk.

Why integrate with Pershing LLC through ZagTrader

Integrating with Pershing through ZagTrader means consolidating order management, compliance, account servicing, reconciliation, and reporting onto one multi-asset front-to-back platform, while Pershing provides the clearing, custody, and settlement infrastructure beneath it. Instead of building and maintaining bespoke connections and reconciliation routines, a firm gets a single OMS/EMS that already understands the post-trade lifecycle and keeps its records aligned with the clearing platform.

The same platform can span Pershing alongside other supported brokers, venues, and counterparties, so a business managing both execution relationships and a clearing-and-custody provider works from one consistent blotter and one set of books. As the firm grows into new products, account types, or markets, the integration scales without re-platforming, making ZagTrader a durable foundation for introducing brokers, RIAs, and wealth platforms that rely on Pershing for clearing and custody. The specific services and arrangements available always depend on the client's own agreements and onboarding with the firm.

• One multi-asset OMS/EMS layered over Pershing's clearing and custody infrastructure.
• API and FIX integration with continuous reconciliation against clearing records.
• Books, records, and reporting produced from a single source of truth.
• Pre-trade compliance and risk controls ahead of downstream clearing.
• Scales to more products, account types, and counterparties without re-platforming.