Velocity Clearing LLC, a global financial services technology company, today reported record growth in 2023 across multiple success metrics.
Continually elevating the trading experience for retail and institutional clients, Velocity implemented key enhancements and innovations in client service, product offerings, team build and geographic reach.
Velocity Clearing CEO Michael Logan, said, “Velocity entered 2023 as a strong firm poised for further growth and we can report that as we close out the year we have exceeded all expectations of delivering premier service to our global retail and growing base of institutional clients. Clients are embracing our offering of a full suite of trading solutions and services that empowers them to reach their goals and objectives. We are grateful for the trust they have placed in Velocity and our people.”
Velocity’s mission is to deliver “best in class” service to its global client base by offering execution, clearing, custody and securities lending. Velocity’s Prime Brokerage platform combines concierge service with global access to multiple brokers and its very own self-clearing capabilities.
The firm reported the following key metrics for 2023:
- 300% increase in assets under custody
- Nearly doubling its client base
- More than doubling its correspondent clearing business (correspondents, assets, trading volume)
- Further expansion into institutional marketplace
- 50% increase in U.S. employees
- Nearly doubling its offshore technology staff
- Key hires of Brian Schaeffer as President, Ralston Roberts as Head of Global Markets and Madelyn Lando as Head of Equity Finance
- Expansion into Latin American and Asian markets
- Expansion into new asset classes, including fixed income and derivatives
Brian Schaeffer, Velocity’s president, said, “It has been an incredible year of momentum at Velocity that has the firm primed for continued growth and success in 2024, including exciting new partnerships that will soon be finalized and announced with leading institutional broker-dealers. Our retail offering is state-of-the-art and plans are in place for a very meaningful global expansion of our institutional business in the new year.”
Early in the new year, representatives from the Velocity Clearing team will be in Miami as part of Hedge Week, January 29 – February 1, for meetings and hosted events surrounding the iConnections Global Alts Conference and the Equities Leaders Summit.
About Velocity Clearing, LLC
Velocity Clearing is a self-clearing broker/dealer serving correspondents, Prime Brokerage clients, active retail traders, emerging hedge funds and other market participants. The firm began in 2003 providing locates on locate required securities, and now offers institutions and sophisticated traders a full, tech-enabled ecosystem for securities locates, borrowing, executing, clearing, custody and financing. Over the past few years, Velocity expanded its suite of services to include portfolio margin and execution and clearing for options, tied together with a seamless user experience, proven risk management, and a veteran team of traders and technologists. With a growing team in multiple locations, Velocity has the right combination of resources and people to service clients around the globe on a 24×6 basis. Velocity Clearing is a member of FINRA and SIPC.
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