NEW YORK--(BUSINESS WIRE)--Velocity Clearing LLC, a global financial services technology platform, announced today that Brian Schaeffer has been named president of the firm.
Schaeffer brings more than 20 years of capital markets experience to Velocity, most recently as founder and president of Clearpool Group, an algorithmic trading platform where he ran all aspects of the company’s revenue growth and business development.
Schaeffer will report to Velocity Clearing CEO Michael Logan, who said, “We are delighted to welcome Brian as the firm’s new president. Velocity Clearing has experienced rapid growth and Brian will play a central role in further accelerating our business development. He is a dynamic, innovative business leader whose entrepreneurial drive and technology expertise will serve our firm and our clients well.”
Schaeffer began his career as a trading clerk and then top specialist at the New York Stock Exchange. He also worked as a television analyst on CNBC before becoming CEO of Van der Moolen Specialists, one of the largest listed global trading and technology companies. Schaeffer later took over as CEO of WTS Proprietary Trading Group, which he grew into one of the largest technology-driven prop trading groups in the country.
“Velocity has a fantastic offering and world-class team,” said Schaeffer. “Velocity was built to fill a huge gap in the industry for a much-needed next generation full service brokerage firm that is automating the process for all market participants to trade multiple asset classes with the full breadth of execution, clearing, custody and technology. Velocity has a unique combination of people, processes and technology and the platform to make this happen at warp speed.”
Velocity’s mission is to deliver “best-in-class” customer service to its global client base by offering execution, clearing, custody and securities lending. In addition, the firm offers a full suite of trading solutions and services to empower clients to reach their goals and objectives. Velocity’s prime brokerage platform allows their clients global access to multiple brokers, in addition to its own self-clearing capabilities.
About Velocity Clearing, LLC
Velocity Clearing is a self-clearing broker-dealer serving retail brokers, online trading platforms, active retail traders, emerging hedge funds and high-frequency trading groups. Founded in 2015 as a specialist provider of hard-to-borrow stock locates, Velocity now offers sophisticated traders a full, tech-enabled ecosystem for securities locating, borrowing, executing, clearing and financing. Velocity recently expanded its suite of services to include prime brokerage, portfolio margin, and options clearing, all tied together with a seamless user experience, proven risk management, and a veteran team of traders and technologists. With a growing team of over 125 professionals in multiple U.S. locations, Velocity has the right combination of resources and people to service clients 24x6. Velocity Clearing is a member of FINRA, SIPC and the Securities Trading Association of New York.
