Velocity Placed in Voluntary Administration

ORGANIZATION AND STRATEGY

SYDNEY--Velocity Systems International, an Australian-based FX trading system vendor, was placed into voluntary administration by its directors on Tuesday, April 23, Trading Technology Week has learned. The object of the administration is to restructure the company and offer parts or all of it for sale.

"It is the desire of the directors to emerge from the re-structure either having found a suitable buyer or preferably to emerge as a cash-positive company able to carry on the basic mission of

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