WMD represented its long-standing client Velocity Clearing LLC in connection with Hanwha Life Insurance Co., Ltd.’s acquisition of a 75% stake in Velocity. Velocity management will retain a 25% stake following the closing. Hanwha Life is South Korea’s first life insurance company. With this transaction, Hanwha Life becomes the first Korean insurance company to acquire a U.S. securities firm.

Velocity Clearing is a technology-driven, self-clearing broker/dealer providing execution services, clearing, and custody along with access to stock locate services, securities lending, competitive financing, and a firm-wide focus on world-class customer service. Velocity Clearing supports retail traders and institutional clients including brokers/dealers, hedge funds, family offices, and proprietary trading firms in the United States and across the globe. Velocity Clearing is registered with the SEC and a member of FINRA and SIPC.