|Velocity Futures, LP|
|Key People||Jack E. Earnest, Jr.|
Velocity Futures is a privately-owned technology-based Introducing Broker. Formerly a futures commission merchant, Velocity was acquired by ILQ in September of 2013 and transformed itself to an Introducing Broker.
Velocity was founded by Jack E. Earnest, Jr. Earnest had previously founded a broker-dealer, CSI.NET, which was a software firm offering solutions to high frequency traders in the equity markets. Earnest left Velocity in October of 2013 after it was acquired by ILQ.
In 2002 to 2004, Velocity was a member of the Chicago Mercantile Exchange operating a proprietary trading operation.
Velocity was fined $300,000 by the U.S. Commodity Futures Trading Commission in August of 2013 when the firm was found guilty for failing to comply with the minimum financial requirements for FCMs.
Products and Services
Velocity offers a range of trading products and services to professional, experienced non-professional customers. It is registered as an Introducing Broker with the U.S. Commodity Futures Trading Commission and is a member of the National Futures Association.