Velocity Systems turns to consulting in post-administration business plan


SYDNEY -- Australian FX trading systems vendor Velocity Systems International is focusing on providing consultative e-FX services to banks and institutions, it announced last week.

The move, part of the vendor’s reshaped business plan, after going into voluntary administration on April 23, will help provide a "sustainable business for the long term", said Velocity chief executive Jim Nuzum in Sydney. The move is in response to a change in the way banks develop e-trading systems to increasing