What were the reasons for you wanting to join LBMA and what do you see you see as the key benefits of membership?
As Velocity Trade has increased its global footprint in the precious metals market, it has become imperative that our interactions are guided by the principals espoused by the LBMA. Being a Full Member assures our clients and other counterparties that we adhere to responsible sourcing, supply chain integrity, and demonstrates our commitment to a secure market for precious metals.
Could you tell us about your company's role in the precious metals market?
Velocity Trade's philosophy has been one of finding connections between global markets. Our precious metals business provides physical, allocated, and unallocated trading for clients in markets around the world, all integrated with key services in foreign exchange and derivative hedging.
Please tell us the background and history of the company.
Velocity was founded in Canada in 2007, launching first as a globally focused foreign exchange broker-dealer. Since then, it has grown to encompass operations in major financial centres around the world while expanding its offerings to also include metals, equities, and capital advisory services.
What factors do you expect to impact your business in the short to long term?
Liquidity, credit, and overall risk appetite is at an important inflection point, no less so in precious metals. Additionally, the increased focus on sustainability and other environmental factors are transforming the industry, and LBMA’s lead in this area is both valuable and necessary. At Velocity, being aware of this changing environment allows for better risk management and service to our clients.
What are your future plans for the business in the coming years?
Velocity Trade has continued its growth over the past few years, with the expansion of its office in Amsterdam, the addition of an office in Germany and strong new partnerships around the world. Looking ahead, we plan to continue this growth, both geographically with a new office planned in Singapore, and in launching products integrating strengths from all across the Velocity group of companies.
