On October 13, 2014, Denver-based mutual fund shop Janus unveiled a deal to buy VelocityShares' parent, VS Holdings.
Founded by former executives at Barclays and Natixis in 2009, VelocityShares LLC is a specialist in exchange traded products for professional traders. It launched its first funds -- six ETNs based on the VIX volatility index -- in November 2010. Credit Suisse AG acts as the issuer of the ETNs.
The firm offered 14 ETNs focused on commodities and futures as of November 2011.
History Nick Cherney, Richard Hoge and Greg King co-founded the firm in 2009. King, now at Credit Suisse, developed the iPath ETN products for Barclays Capital and brought Cherney on board as a PM. Hoge was head of Natixis' US Structured Capital Product Group.