Velocity Clearing And Raymond James Announce Prime Brokerage Services Referral Agreement; Allows Raymond James Institutional Sales And Sales Traders To Introduce Velocity Prime Brokerage Services To Clients
Portfolio Pulse from Benzinga Newsdesk
Velocity Clearing and Raymond James have entered into a prime brokerage services referral agreement. This partnership enables Raymond James' institutional sales and sales traders to offer Velocity's prime brokerage services, including custody, clearance, settlement, financing, and securities lending, to their institutional clients such as hedge funds and professional fund managers. This complements Raymond James' existing services like equity research and corporate access.
January 24, 2024 | 2:11 pm
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Raymond James (RJF) enters a referral agreement with Velocity Clearing to introduce prime brokerage services to its institutional clients, potentially expanding its service offerings and client base.
The referral agreement with Velocity Clearing is likely to have a positive impact on Raymond James' stock in the short term as it expands the company's service offerings and could attract more institutional clients. The partnership enhances the company's competitive position by complementing its existing services with additional prime brokerage solutions.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80