Pax Clearing Corporation

Pax Clearing Corporation (PAX), a full-service options, stock and futures clearing firm has trading locations in Chicago, New York, Philadelphia and San Francisco. Starting September 2001, Pax Clearing Corporation began clearing trades executed on the Chicago Board of Trade. PAX is a portfolio company of Madison Dearborn Partners. Paul R. Wood, husband of former Lt. Governor Corinne Wood, and a managing director of MDP, and Timothy Hurd, another managing director of MDP, are on the board of directors of PAX. Established in 1980, PAX has grown from a proprietary trading, non-clearing organization to a full clearing business supporting nearly 300 professional market makers. In April of 2005 Merrill Lynch a financial management and advisory company completed an acquisition deal of PAX.

From 1998 to 2001, Pax Clearing Corporation gave $54,400 to candidates for Illinois statewide constitutional and legislative office, 100% of which was contributed to Republicans.

Last revised June 2011.