Self-clearing broker Velocity Clearing announced it has opened a new office in Chicago as it expands its execution, clearing and custody operations, including the options markets.
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. It’s also a player in securities lending.
Velocity Clearing president Brian Schaeffer said in a statement: “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.