What We Do
US Broker Dealer Formation Services
BBD Consultants provides end-to-end guidance for firms navigating the New Membership Application process — from Introducing Brokers to the most complex Carrying and Clearing Firm formations.
Core Service
New Membership Applications
The New Membership Application is the gateway to operating as a registered US broker dealer. It is a detailed, demanding process — and one where preparation and expertise make all the difference. BBD Consultants guides your firm through every phase: entity formation, Form BD filing, written supervisory procedures, financial requirements, and the application itself. We know what regulators look for and how to present your firm in the strongest possible light.
Our Process
- Initial assessment and readiness review
- Entity formation and Form BD preparation
- Written Supervisory Procedures development
- Net capital and financial requirement planning
- Application submission and regulatory follow-through
- Approval and launch support
Specialized Service
Carrying Firm Formation
Carrying Firms hold customer assets and are subject to significantly more rigorous regulatory requirements than Introducing Brokers. The New Membership Application for a Carrying Firm demands a higher level of capital, more robust operational infrastructure, and a deeper compliance framework. Our team has direct experience guiding Carrying Firm applications — we understand the heightened scrutiny and know how to build an application that stands up to it.
Our Process
- Carrying Firm eligibility and capital assessment
- Custody and safeguarding framework development
- Operational infrastructure planning
- Comprehensive NMA preparation and submission
- Regulatory examination readiness
- Post-approval compliance support
Specialized Service
Clearing Firm Formation
Clearing Firms sit at the center of the securities settlement process and face the most complex regulatory requirements of any broker dealer category. Capital requirements, operational systems, risk management frameworks, and regulatory oversight are all substantially elevated. BBD Consultants brings the specialized expertise required to navigate a Clearing Firm New Membership Application — a process that demands precision, experience, and deep industry knowledge.
Our Process
- Clearing Firm feasibility and capital planning
- Settlement and operational systems assessment
- Risk management framework development
- Full NMA preparation and regulatory engagement
- Ongoing compliance and supervisory support
- Industry relationship and counterparty guidance
Continuing Service
Ongoing Supervisory Support
Registration is just the beginning. Maintaining compliance as a US broker dealer requires ongoing attention — annual reviews, updated written supervisory procedures, regulatory change management, and responsive guidance when issues arise. BBD Consultants provides the continuing support your firm needs to stay compliant and focused on business.
Our Process
- Annual compliance program reviews
- Written Supervisory Procedure updates
- Regulatory change monitoring and guidance
- Examination preparation and support
- Ad hoc compliance consulting
- Supervisory framework enhancements
The BBD Difference
Most consultants can help with a standard Introducing Broker application. Very few have the experience to guide a Carrying or Clearing Firm through the New Membership Application process. That's where BBD Consultants stands apart.
Carrying & Clearing Firm Specialists
We have successfully guided Carrying and Clearing Firm applications — the most complex NMA filings in the industry. Our track record speaks for itself.
80+ Years of Collaborative Experience
Our team's combined experience spans prime brokerage, carrying firms, clearing firms, and broker dealer compliance. We've worked inside these businesses and know what it takes.
Hands-On From Start to Finish
We don't hand you a template and disappear. We work alongside your team through every stage — from initial planning through approval and beyond.
Ready to Start Your New Membership Application?
Let's discuss your firm's goals and map out the path forward. Our team is ready to guide you through every stage of US broker dealer formation.