Velocity Clearing Enhances Presence with New Office in Chicago
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Velocity Clearing Opens New Office in Chicago
Velocity Clearing, a prominent financial services firm, has announced the establishment of a new office in Chicago. This strategic expansion is designed to bolster its execution, clearing, and custody operations, particularly in the vibrant options market.
Commemorating the Expansion
To mark this significant milestone, representatives from Velocity Clearing are set to ring the closing bell at the Cboe Global Markets trading floor in Chicago. This event is scheduled to take place soon, symbolizing the firm's commitment to its growth and presence in the financial sector.
Options Trading Growth
Options trading holds a pivotal role in Velocity Clearing's diverse portfolio of services. The firm provides a comprehensive range of offerings, including execution, clearing, settlement, custody, and technological support. Moreover, it has garnered a reputation as a frontrunner in the securities lending realm.
Executive Insights
During a recent statement, Velocity Clearing's President, Brian Schaeffer, emphasized the rapid growth in options trading. He remarked, “Options trading is a core area of growth for Velocity and our trajectory in this business is increasing rapidly. Our new Chicago office and on-the-ground presence in the city is needed to effectively service growing customer demand in options trading along with other asset classes.”
Existing Network of Offices
Velocity Clearing maintains a robust network of offices across various locations, including New York City, Hazlet, New Jersey, Boca Raton, Florida, and Dallas, Texas. Each of these locations is integral to the firm's operations, ensuring comprehensive service delivery to its clients.
Membership and Affiliations
The firm is an esteemed member of several equity and options exchanges, including the Cboe, and is fully affiliated with the Depository Trust Corporation. It is also a member of the Options Clearing Corporation, which serves as the primary clearing house for options contracts in the United States.
About Velocity Clearing, LLC
Velocity Clearing is a self-clearing broker-dealer dedicated to meeting the needs of various market participants, including correspondents, Prime Brokerage clients, active retail traders, and emerging hedge funds. Since its inception in 2003, the firm has evolved from providing locates on required securities to offering a tech-enabled ecosystem that facilitates securities locates, borrowing, execution, clearing, custody, and financing.
In recent years, Velocity has broadened its service offerings to encompass portfolio margin and execution and clearing for options. This expansion is coupled with a seamless user experience, effective risk management practices, and a highly skilled team comprised of traders and technologists. With a growing workforce in multiple locations, Velocity Clearing efficiently services clients globally on a 24x6 basis. Additionally, the firm holds membership with FINRA and SIPC.
Frequently Asked Questions
What is the significance of Velocity Clearing's new Chicago office?
The new office expands Velocity Clearing's presence and enables enhanced service delivery in options trading and other financial services.
When will the Chicago office's opening be commemorated?
Velocity Clearing will commemorate the opening by ringing the closing bell at the Cboe Global Markets trading floor.
What services does Velocity Clearing offer?
Velocity Clearing provides execution, clearing, settlement, custody, and technology services across various asset classes including options trading.
Where else does Velocity Clearing have offices?
The firm has offices in New York City, Hazlet, New Jersey, Boca Raton, Florida, and Dallas, Texas.
Is Velocity Clearing affiliated with any trading organizations?
Yes, it is a member of several equity and options exchanges, as well as FINRA and SIPC.
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