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Velocity Trade acquires Auckland-based Latitude FX

Jan 01st, 2010

Velocity Trade, a global foreign exchange dealer, has acquired Auckland-based Latitude FX to increase its global presence, and provide a platform for further expansion in the region.
Latitude FX, staffed by experienced foreign exchange market professionals, offers competitive foreign exchange rates for corporations and individuals online and over the phone, and a revolutionary system for transferring money around the world.

“Acquiring Latitude FX is a great step for Velocity Trade,” says Greg Morgan, Director of Velocity Trade and CEO of Latitude FX. “It gives us a footprint in New Zealand and allows us to expand throughout Australasia, quickly and effectively. Through combining efforts, Velocity Trade and Latitude FX will have the tools to ensure the best possible pricing and global settlement infrastructure to their growing client base”

About Velocity Trade

Velocity Trade, with offices in Toronto, New York, London and Auckland offers foreign exchange dealing to corporations, institutions and broker-dealers through online platforms and dedicated traders. Velocity trade is regulated by the Financial Services Authority (FSA) in UK, and is registered with Her Majesty’s Customs and Excise (HMRC). They are a London Stock Exchange member, and registered with FINTRAC in Canada as Money Services Business.

About Latitude FX

Latitude FX, based in Auckland, New Zealand, is a subsidiary of Velocity Trade, and offers a variety of Foreign Exchange services including competitive spot and forward rates for corporations and institutions; a revolutionary service for exchanging and transferring money for individuals around the world; and margin FX trading for individuals and money managers. Latitude FX is regulated by the Australian Securities and Investment Commission, and an authorized futures dealer with the New Zealand Securities Commission*, and a five star rated Financial Intermediary Member of the New Zealand Financial Markets Association.

* The Securities Commission’s role in authorizing futures dealers is limited and does not imply approval or endorsement of the business, trading or solvency of the company; and the Securities Commission has not approved the “Clients Services Agreement” or any disclosure documents of the company.
Article originally appeared: 2010