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| History of Velocity Velocity Futures, L.P. was founded in April 2002 by Jack E. Earnest, Jr. to address the needs of the active trader population in their migration to futures trading. Mr. Earnest's experience with active traders began in 1994, with startup firms when he began working individual traders seeking to increase the speed of their executions on the NASDAQ SOES ("Small Order Execution System"). Since then, his focus has always been the active high volume individual trader. Later that year, Velocity Futures launched a proprietary trading operation and became a member of the Chicago Mercantile Exchange from 2002-2004 to reduce trading fees. Active Trading Community In 1995, seeking to grow the business of trading, Mr. Earnest co-founded Momentum Securities, Inc., an NASD and SEC registered broker/dealer. Momentum went on to become one of the largest professional trading organizations in North America, second only to Charles Schwab & Co. in terms of daily transaction volume. Momentum was also the largest overall securities firm in the State of Texas at one time as measured by daily transaction volume. In 1999, Momentum was acquired by Tradescape.com and is now owned and operated by ETRADE under the name E-Trade Professional. Technology Focused In 1992, to further the development of trading tools, Mr. Earnest founded CSI.NET, Inc., a software development company with several diverse products for the high volume trader. CSI.NET’s MTRADE platform became one of the top trading platforms developed exclusively by traders/for traders in the trading industry. CSI.NET’s software platform was used by several of the largest trading firms exclusively including Hold Brothers (formerly Online Investments, Inc.), and Momentum Securities, Inc. In 1999, CSI.NET’s equity trading platforms were sold to Tradescape.com and are were acquired by ETRADE under the name of E-Trade Professional. Velocity Futures, L.P. is a Futures Commission Merchant Registered with the CFTC (“Commodity Futures Trading Commission”), and the NFA (“National Futures Association”). Velocity is also registered with the FERC ("Federal Energy Regulatory Commission"), the PJM ("PJM ISO"),and MISO ("MISO ISO"). Velocity Futures, L.P. is Operated by it's General Partner Velocity Management I, L.L.C.
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