Hanwha Life to acquire a 75% stake in Velocity Clearing.

Hanwha Life, a South Korean life insurance company, agreed to acquire a 75% stake in Velocity Clearing, a US-based global financial technology firm and self-clearing broker. Financial terms were not disclosed. “The Velocity Clearing team is well positioned for continued meaningful global expansion of our institutional business and we have made demonstrable progress in multiple geographies such as Europe, Asia, Latin America and the Middle East. This partnership builds on our plans, allowing us to effectively address growing customer demand in new markets and positioning us for long-term success,” Brian Schaeffer, Velocity Clearing President.