Penson Worldwide Inc., which provides clearing services to the securities industry, said it agreed to acquire the clearing service business of New York-based securities firm Schonfeld Securities LLC.

Penson did not disclose the purchase price, but said the acquisition was primarily on an earn-out basis and the full amount full will be paid in five instalments.

Penson said it expects the acquisition to add about 14 cents a share to earnings in 2007.