Velocity Futures
| Velocity Futures, LP | |
| Founded | 2002 |
|---|---|
| Key People | Jack E. Earnest, Jr. |
| Website | http://www.tradewithvelocity.com/ |
| Releases | Company News |
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.[1][2]
Velocity was ranked as number 49 by Futures Magazine in their list of the top 50 futures brokers.[3]
History[edit]
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.[4]
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.[5]
In 2011, Velocity was fined by the CFTC for ailing to supervise diligently the handling of its customer accounts. It was fined $180,000 and ordered to cease and desist.[6]
Products and Services[edit]
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.
Key People[edit]
- Jack E. Earnest, Jr., CEO
- Jamie Marie Larson, Chief Compliance Officer
References[edit]
- ↑ Exclusive: ILQ Acquires Velocity Futures. Forex Magnames.
- ↑ Velocity sold to Institutional Liquidity LLC. Stay or leave?. Elite Trader.
- ↑ News. Velocity Futures.
- ↑ Jack Earnest. LinkedIn.
- ↑ VELOCITY FUTURES LLC. National Futures Association.
- ↑ VELOCITY FUTURES LLC. National Futures Association.