CORRECTED - CORRECTED-UPDATE 1-Penson sees robust clearing revenue in Q4

(Corrects paragraph 2 to show the company posted a rise, not a fall, in quarterly profit. Removes incomplete quote in paragraph 7 and reference to earnings uptick in paragraph 1. Also attributes quote in paragraph 8 to CEO)

By Adheesha Sarkar

BANGALORE Oct 23 (Reuters) - Penson Worldwide Inc (PNSN.O), a provider of trading and clearing services, on Thursday forecast robust clearing and commission revenue sending its shares up as much as 12 percent.

On Wednesday, Penson Worldwide posted a higher third-quarter profit that beat analysts' estimates, helped by a surge in clearing and commission fees, and technology revenue.

The company has 29 new clients in the pipeline, most of whom were won from competition, Chief Executive Phil Pendergraft said in a conference call with analysts.

These clients are likely to start contributing to revenue in the next two quarters, Pendergraft said.

"We believe we will benefit from new customer win and weakening competition in the current environment," he said.

Non-interest revenue is expected to be "strong" in the fourth quarter, Chief Financial Officer Kevin McAleer said.

CEO Pendergraft said non-interest revenue is becoming a larger part of Penson's business.

He said net interest income will be impacted by $1.5 million in the fourth quarter, due to a reduction in federal funds rate.

Federal funds rate declined 60 percent year over year, the company said in its earnings statement.

Shares of the Dallas-based company were trading up 63 cents at $10.63 in midday trade on Nasdaq. (Editing by Gopakumar Warrier)