Matrix Applications partners with Velocity Clearing for collateral management

In New York, on December 5, 2024, Matrix Applications LLC announced a significant partnership with Velocity Clearing LLC. The financial technology company has been selected by Velocity as its strategic technology solutions provider, primarily utilizing Matrix's proprietary platform, TradeBlazer. This decision came after a detailed evaluation process, highlighting Matrix's exceptional customer service and the robust functionalities of TradeBlazer. The system is recognized for its comprehensive suite of functions that support fixed income transactions, including accounting, credit, operations, trading, and risk management. The collaboration aims to streamline Velocity’s operations and enhance client services, setting new efficiency standards in the financial sector. The TradeBlazer system, with over three decades of development, is particularly noted for its capability to deliver integrated functions that address various aspects of capital markets operations. Tony Merola, Managing Director at Velocity, commented on the agreement, emphasizing how the platform empowers them to optimize their trading processes and provide improved client solutions. Velocity Clearing caters to institutional clients such as broker/dealers, hedge funds, family offices, and proprietary trading firms, offering services like execution, clearing, custody, stock locate services, and competitive financing. Stephen Mellert, Head of Business Development at Matrix Applications, also stressed the uniqueness of their customer service, distinguishing them in a competitive market. He expressed confidence that this partnership places both firms on a path toward unmatched success and growth in the industry. This collaboration not only expands Matrix's clientele but also reinforces its reputation in delivering bespoke financial technology solutions tailored to meet the needs of institutional firms. In summary, this new partnership is strategic for both Matrix Applications and Velocity Clearing, marking a promising development in how institutional financial services could evolve with advanced technology solutions in the coming years.