TORONTO, April 12, 2013 /CNW/ - Velocity Trade announced today that Sal Provenzano has joined its senior management team in the capacity of Head of Institutional FX. In this role, he will be chiefly responsible for enhancing the development of Velocity Trade's business initiatives, including relationships with new and existing FX prime brokers, FX liquidity provision and relationships with trading platforms/ECNs, as well as client acquisitions.
Mr. Provenzano is a highly regarded foreign exchange professional with over thirty years in the industry. Before joining Velocity Trade, he held the position of Global Head of FX Prime Brokerage with Prudential Bache/ Jefferies Bache; prior to this, he was Head of North American FX Prime Brokerage sales with ABN AMRO Bank, and, before that, was Managing Director of FX Brokerage at Lasser Marshall, New York.
"We've focused a lot on developing a superior FX offering and establishing global service centres, both of which are proving to offer significant advantages to institutional traders. Our value proposition is clear. Now it's a matter of getting it to the widest audience," says Velocity Trade Principal Partner, Simon Law." Sal has a depth of foreign exchange experience that was very attractive to Velocity Trade, specifically in terms of his ability to cultivate and support FX channels."
About Velocity Trade Velocity Trade is a global provider of deliverable FX and margin trading services. With operations in Toronto, Montreal, New York, London, Sydney, Auckland and Cape Town, their service allows clients around the world to trade a variety of products using multiple interfaces. Velocity offers a hybrid service of extremely competitive electronic pricing and execution combined with all the benefits of a 24hour live dealing desk. All trades are DMA. Velocity Trade does not have a dealing desk and does not make money on client losses. The company services institutional customers managing trading risk and corporations hedging exposure to currency fluctuations. Velocity also partners with Introducing Brokers, White Label Partners and Institutions for margin FX without channel conflict.SOURCE Velocity Trade