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Velocity Trade Goes Live on Spectrum 9-Apr-12

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Velocity Trade Goes Live on Spectrum 9-Apr-12 Powered By Docstoc
					                                     NEWS RELEASE
                                           Horsham, Pennsylvania
                                                April 9, 2012

  VELOCITY TRADE GOES LIVE ON FINANCIAL SOFTWARE SYSTEMS’
            SPECTRUM SYSTEM FOR MARGIN TRADING
Velocity Trade licensed Financial Software Systems’ Spectrum Broker and Client Web Portal in August 2011 as
an upgrade to their previous FX trade management solution. Velocity went live in January 2012 with Phase 1
of the implementation, which provides for Leveraged FX Trading, for its London-based operations. This initial
phase, which included multiple STP interfaces and a customized Client Web Portal for user driven dealing,
account management and reporting was completed in a little more than three months. In February 2012,
Phase 2 saw Velocity migrate over their existing Physical FX business. Velocity acquired access to Spectrum
under a Software as a Service (SaaS) model whereby the system is hosted from Financial Software Systems’
hosting center. The two go-live events each took place over a 5 day period and were completed with no
interruption to daily operations.
Velocity Trade will benefit from the implementation of Spectrum through a higher level of automation and
less manually-intensive work. The solution will be more scalable and will provide more high-value; client-
centric services oriented towards the dealing, account management and reporting functions. Another benefit
of selecting Spectrum was the seamless integration between the functional Client Web Portal and their
Spectrum Back Office. Velocity Trade was looking to the future when selecting a new FX Trade Management
and Client Portal solution. They choose Spectrum, knowing it would be a scalable solution that would
enhance the client users’ experience and grow with their organization.
Ben Brown, head of FX at Velocity Trade, London said “with its superior Client Portal, flexibility and broad
functionality, Spectrum is the perfect complement to our exceptional pricing and liquidity, allowing us to
further expand our offering globally. The efficiency by which this implementation has come about is a credit
to both Velocity Trade, working together globally, and to the excellent implementation team at Financial
Software Systems”.
Velocity Trade (http://www.velocitytrade.com) is a global provider of physical FX, leveraged FX and CFD
trading services. With operations in Toronto, Montreal, New York, London, Sydney, Auckland and Cape
Town, their service allows clients around the world to trade a variety of products using a variety of platforms,
under a variety of arrangements. Velocity offers a hybrid service of extremely competitive electronic pricing
and execution combined with all the benefits of a 24-hour live dealing desk. Velocity Trade services
institutional customers managing trading risk and corporations hedging exposure to currency fluctuations,
alongside partnering with Introducing Brokers, White Label Partners and Institutions for Leveraged FX and
CFDs.
Financial Software Systems, Inc. - Founded in 1992, Financial Software Systems (www.finsoftware.com)
provides Treasury, Risk, and Collateralized trading software for banks, broker-dealers, and fund managers.
The Spectrum System supports the full range of front, middle, back office and accounting activities across a
complete range of assets, including: foreign exchange, money market, interest rate, vanilla and exotic
derivatives, fixed income, and equity instrument. Spectrum also provides configurable straight-through-
processing (STP) and out-of-the-box integration to third-party platforms. Financial Software Systems has
offices in Horsham, PA., San Francisco, Miami, Mexico City, Guayaquil, London, Hyderabad, Singapore and
Hong Kong.

				
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