Velocity Clearing Expands Operations with New Chicago Office

Firm is a growing participant in options trading and will ring closing bell at Cboe on Sept. 23

NEW YORK--(BUSINESS WIRE)--Velocity Clearing, a global financial services firm, today announced it has opened a new office in Chicago, as it expands its execution, clearing and custody operations including the options markets.

To help commemorate the growth milestone, representatives from Velocity Clearing will ring the closing bell at the Cboe Global Markets trading floor in Chicago on Monday, September 23 at 3:15 pm CT.

Options trading is one of multiple asset classes trading by Velocity Clearing, which offers a full breadth of execution, clearing, settlement, custody and technology services. Velocity is also a leader in the securities lending business.

Velocity Clearing President Brian Schaeffer said, “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.”

Velocity Clearing already maintains a growing network of offices in New York City, Hazlet, New Jersey, Boca Raton, Florida, and Dallas, Texas. Velocity Clearing is a member of numerous equity and options exchanges including Cboe and is also a full member of the Depository Trust Corporation and the Options Clearing Corporation, the sole clearing house for options contracts in the United States.

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 24x6 basis. Velocity Clearing is a member of FINRA and SIPC.