Velocity Clearing Selects Matrix Applications and its TradeBlazer Collateral Management System

New York, NY, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Matrix Applications, LLC ("Matrix"), a New York based financial technology and operational service bureau for the capital markets, is proud to announce a new customer agreement with Velocity Clearing, LLC ("Velocity”).

Velocity has chosen Matrix as its strategic technology solutions provider and will utilize Matrix’s proprietary platform, TradeBlazer. This collateral management system, with over three decades of refined business logic, provides a comprehensive suite of integrated functions. TradeBlazer delivers best-in-class support for fixed income transactions, spanning accounting, credit, operations, trading, risk management and real-time clearance activities.

"Following a thorough evaluation, we found Matrix’s customer service and TradeBlazer's functionalities to be exceptional. The platform empowers us to streamline operations, enhance trading processes and offer solutions to our valued clients. With TradeBlazer, we are poised to set new standards in efficiency and client satisfaction,” commented Tony Merola, Managing Director at Velocity.

Velocity is a technology-driven, self-clearing broker/dealer with a mission to combine high-tech infrastructure with high-touch service. The company supports institutional clients including broker/dealers, hedge funds, family offices and proprietary trading firms. Velocity provides execution services, clearing and custody, along with access to stock locate services, securities lending and competitive financing. It now joins Matrix’s growing list of customers.

"We strive to provide our clients with technology solutions to drive their business. And while there are other vendors who compete with Matrix, none compete with our level of customer service," shared Stephen Mellert, Head of Business Development at Matrix. "Our partnership with Velocity positions us to achieve unparalleled success and growth together."

About Matrix Applications, LLC
Matrix Applications is a New York-based fintech service bureau that offers a suite of collateral management, margining and clearing systems for institutional fixed income trading and equities securities lending. We are a team of capital markets and systems professionals delivering financial technology solutions to institutional firms since 2000. We work hands-on with our clients to identify an optimal mix of services to best fit their needs, from systems to back-office operations assistance. With in-house and offshore developers, we provide our clients with the right solution at the right price. Comprised of industry veterans and financial professionals, we leverage our extensive technical experience, a deep network across the finance industry and a team of ops, regulatory and legal gurus to deliver bespoke systems and managed services for firms big and small.