Velocity Clearing Takes Leading Role in Strategic Alliance with Avenue Securities LLC

Allfunds Group to Provide Platform for Accessing and Distributing Investment Funds

NEW YORK--(BUSINESS WIRE)--Velocity Clearing, a global financial services firm, today announced a strategic alliance with Avenue Securities, an innovative investment firm specializing in global investment solutions. In addition, Allfunds Group will provide Velocity Clearing with a platform seamlessly integrated into Velocity Clearing’s operations for accessing and distributing a variety of investment funds. By utilizing the services of Velocity Clearing and Allfunds Group, Avenue Securities will be able to offer clients a broad array of mutual fund choices and access to global investments.

This collaboration aims to enhance investment, clearing, and mutual fund distribution services, establishing new benchmarks for efficiency and accessibility.

In this collaboration, Velocity Clearing will serve as the primary execution, clearing, and settlement agent for Avenue Securities, for mutual funds and UCITS, among other asset classes - ensuring accurate and efficient trade processing. Furthermore, Velocity Clearing will integrate Allfunds Group's platform, allowing for seamless access to a diverse range of investment funds.

"This strategic alliance brings together top-tier capabilities in global investment access, transaction processing, and a wide selection of investment options," stated Brian Schaeffer, President of Velocity Clearing. "We are excited to leverage our strengths within the Avenue Securities and Allfunds Group platforms to enhance our offerings for clients."

“We have been growing at an unparalleled pace in the Brazilian market. This alliance with Velocity Clearing and Allfunds Group will support us in gaining the scale we need to keep up with this growth, while providing access to new products”, said Alexandre Artmann, COO of Avenue. “This partnership will also pave the way for the great products that we will soon bring to the market.”

About Velocity Clearing, LLC

Velocity Clearing is a self-clearing broker/dealer serving correspondents, Prime Brokerage clients, active retail traders, emerging hedge funds and other market participants. The firm began in 2003 providing locates on locate required securities, and now offers institutions and sophisticated traders a full, tech-enabled ecosystem for securities locates, borrowing, executing, clearing, custody and financing. Over the past few years, Velocity expanded its suite of services to include portfolio margin and execution and clearing for options, tied together with a seamless user experience, proven risk management, and a veteran team of traders and technologists. With a growing team in multiple locations, Velocity has the right combination of resources and people to service clients around the globe on a 24x6 basis. Velocity Clearing is a member of FINRA and SIPC.

About Avenue Securities LLC

Avenue is a Miami-based company that enables Brazilians to have a dollar account and invest directly in the U.S. market, giving its clients access to major global asset managers, fixed-income securities, and the largest stock exchanges in the world, NYSE and Nasdaq. Founded in 2018 by a group of Brazilians executives with extensive experience in the local financial market, Avenue Securities is an investment firm that operates in both B2C and B2B models, focusing on retail and high-income clients. In 2022, Avenue and Itaú signed agreements to establish a commercial and strategic partnership. While Itaú acquired a 35% equity stake in Avenue, the Miami-based firm is providing its platform as a solution for international accounts and investments to over 60 million Itaú account holders. Avenue is the brand that was registered on websites and digital platforms operated by Avenue Meios de Pagamento S.A. and its affiliated companies, Avenue Securities LLC, Avenue Global Advisors LLC, Avenue Digital Assets LLC, Avenue Cash LLC, Avenue Securities DTVM Ltda., and Avenue Securities Gestão de Recursos Ltda.