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Velox Clearing<\/a> (\u201cVelox\u201d), a technology-forward provider of clearing solutions to some of the financial industry\u2019s most agile firms, today announced its official launch. Led by a team of clearing industry veterans with nearly 170 years of collective experience, Velox Clearing offers a robust technology solution that is complemented by best-in-class customer service.<\/p>\n\n\n\n Headquartered in Southern California, Velox offers securities clearing, settlement, custody, margin lending, stock loan, and prime brokerage solutions to small- to mid-sized broker-dealers, registered investment advisors (RIAs), hedge funds and automated (black box) traders. Velox brings superior efficiency and speed to the back-office, supporting its customers\u2019 business operations by combining modern, responsive technology with high-touch service, competitive pricing, and rigorous risk management controls. It also offers flexible APIs that enable the firm\u2019s customers to seamlessly integrate their existing infrastructure with Velox\u2019s environment — in some instances, this can reduce account opening times to mere seconds.<\/p>\n\n\n\n The independent firm was established as a response to ongoing industry shifts, including the increased prevalence of high-frequency trading and the exploding popularity of online deep discount brokerages, which have led to greater trading volumes and nascent regulatory concerns. For industry incumbents, these changes have necessitated ongoing technology upgrades to handle traffic and to enable profitability within smaller stock market spreads. As these firms grapple with updating antiquated systems and protecting their balance sheets, there has been a significant contraction of viable clearing and custody options available for smaller clients.<\/p>\n\n\n\n \u201cMany legacy firms have been slow to adapt to change and have instead focused their efforts on patching aging systems that are simply not equipped to handle today\u2019s volumes or functions,\u201d said Pat Kelly, CEO of Velox Clearing. \u201cWe\u2019ve leveraged our expertise to build a solution with technology and risk management at the forefront, rather than as an afterthought. Furthermore, we pride ourselves on our personal approach to service, which affords each and every customer access to a dedicated industry expert that cares deeply about their business.\u201d<\/p>\n\n\n\n David Herron, former CEO of the Chicago Stock Exchange, and a member of Velox Clearing\u2019s board of directors, added: \u201cIn a rapidly evolving business environment that is characterized by innovative technologies, increased competition, and emerging regulatory risks, there is a segment of the market that has become underserved by larger banks. Velox is primed to not only meet these customers’ needs but to help them thrive. I look forward to working with this dynamic team as they expand their presence.\u201d<\/p>\n\n\n\n For more information on this press release, visit: https:\/\/www.prweb.com\/releases\/velox_clearing_llc_launches_correspondent_clearing_and_prime_brokerage_services\/prweb16644885.htm<\/a> <\/p>\n\n\n\n![\"Velox](\"https:\/\/i1.wp.com\/resources.velox-global.com\/wp-content\/uploads\/2019\/10\/05D77DBE-78C4-41DA-AAB0-AF933B2B9E60.jpg?resize=840%2C558&ssl=1\")
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