Velocity Trade, headquartered in Toronto, Canada, but operating globally, has licensed the Spectrum System from Financial Software Systems (“FSS”). Velocity will leverage Spectrum to support its front-to-back-office Foreign Exchange dealings in spot, forward, Non-Deliverable Forward, swap, and option contracts. Velocity will now have a highly automated platform for supporting the collateralized trading activities of their clients’ FX needs and enable Velocity to continue its growth within the institutional FX marketplace. The implementation will incorporate the Spectrum Client FX Portal, which will allow a seamless channel for Velocity clients’ to be able to deal, make FX payments and view, in real-time, all of their FX trade positions and margin and collateral utilization.
In addition, the next release of Spectrum will include a cross-asset OMS initially with support for foreign exchange, fixed income and equities; additional asset classes will be supported in 2012. Users will be able to select from multiple order types (stop, limit, if done, OCO, etc) and strategies. Traders will be able to manage the orders in a configurable view which allows easy drill-down into specific clients, orders and types.