Board of Directors

Richard Hoge, LL.M, J.D. (Chair)
Rich co-founded VelocityShares in 2009. Previously, Rich was Managing Director and head of the US Structured Capital Products Group at Natixis.  Prior to his career in banking, Rich practiced as a tax lawyer and CPA.  He has held positions in the Office of the Chief Counsel of the IRS and as a partner with KPMG. Rich holds an LL.M in Taxation from New York University, a JD Cum Laude from St. John’s University, and a BBA from Hofstra University. He is admitted to the New York and District of Columbia Bars.

J. Parsons
Mr. Parsons has extensive experience in the financial markets. Prior to his retirement in 2010 he held several senior positions at Barclays Global Investors, and was part of the founding management team for iShares where he led global business development from its inception in 1999 through its sale to Blackrock. He has broad experience in all aspects of financial management, including ETPs, derivatives, portfolio management, trading, and sales. He received an MBA from University of Chicago’s Booth School of Business and a BA in Math and Economics from Claremont McKenna College.

Nick Cherney, CFA
Nick co-founded VelocityShares in 2009. Previously, he worked at Barclays Capital in New York and had product development and management responsibilities for iPath ETNs. Previous to his role with Barclays Capital, Nick was a portfolio manager for iShares at Barclays Global Investors in San Francisco where he managed over $25 billion of ETF assets across asset classes. Prior to that, he was an index research analyst at Barclays Global Investors. Nick holds a BA with Highest Honors in Economics from UC Berkeley and is a CFA Charter holder.

Ben Cukier
Ben Cukier is a partner at FTV Capital, which he joined in 1999.  Ben leads investments in asset management, lending and banking for FTV.  He led FTV’s investment into and sat on the board of PowerShares, a pioneer and global leader in the ETP industry.  He also led FTV’s investment into and sits on the board of ETF Securities, a pioneer in the exchange traded commodity space (ETC) and also a global leader in the ETP industry.  Ben was previously with the Telecommunications and Media Team at Madison Dearborn Partners in Chicago. Prior to joining Madison Dearborn Partners, Ben was with McKinsey & Co. in New York, where he consulted to clients in the telecommunications, Internet, and healthcare industries. Ben received his BS and BA from the University of Pennsylvania and an MBA from Stanford University.

Alan Freudenstein
Alan Freudenstein is a Managing Director of Credit Suisse First Boston Private Equity. Prior to joining the Firm in 2000, Mr. Freudenstein was a Managing Director at Bankers Trust Company, where he was responsible for incubation and venture investments within the new world ventures group. Mr. Freudenstein was previously a management consultant at Booz Allen & Hamilton and an equity research analyst at Salomon Brothers. Mr. Freudenstein received a B.A. from Johns Hopkins University in Economics and an M.B.A. from the University of Chicago.

Velocity Shares LLC  | 19 Old Kings Highway S | Darien, CT 06820 | 877-5 VELOCITY (877-583-5624) | Contact Us | Site Design: 341 Studios

VelocityShares is a trade name used by VLS Securities LLC, a registered U.S. broker-dealer, in connection with the services and products described herein.

“VelocityShares” and the VelocityShares logo are trademarks of VelocityShares Index & Calculation Services, a division of VelocityShares, LLC.

“Standard & Poor’s®”, “S&P®”, “S&P 500®”, “Standard & Poor’s 500™”, “S&P 500 VIX Short-Term Futures™”,  “S&P 500 VIX Mid-Term Futures™”, “S&P GSCI®”, “S&P GSCI® Gold Index”,  “S&P GSCI® Silver Index” , “S&P GSCI® Platinum Index”, “S&P GSCI® Palladium Index”,   “S&P GSCI®  Brent Crude Index”, “S&P GSCI® Crude Oil Index”, “S&P GSCI® Natural Gas Index” and “S&P GSCI®  Copper Index”are trademarks of Standard & Poor’s Financial Services LLC (“S&P”) and have been licensed for use by VelocityShares, LLC. “VIX” is a trademark of the Chicago Board Options Exchange, Incorporated (“CBOE”) and has been licensed for use by S&P. The ETNs are not sponsored, endorsed, sold or promoted by S&P or CBOE and S&P and CBOE make no representation regarding the advisability of investing in the ETNs. The S&P GSCI index and the S&P GSCI sub-indices are not owned, endorsed, or approved by or associated with Goldman Sachs & Co. or its affiliated companies.

Securities Products: Are Not FDIC Insured * Are Not Bank Guaranteed * May Lose Value

This site is for informational purposes only. Nothing herein constitutes a solicitation, offer or recommendation by VelocityShares or its affiliates to buy or sell securities. VelocityShares does not render investment, tax, accounting or legal advice. The securities discussed herein may not be suitable for all investors and should only be used by knowledgeable investors who understand the potential consequences of seeking inverse or leveraged investment results. Investors should actively monitor their investments in the securities. Investors should review the prospectus for each security and make their own investment decisions based on their specific investment objectives and financial position and after consulting independent tax, accounting, legal and financial advisors. VelocityShares will receive a fee from the issuers of the products discussed on this site based on the quantity of products outstanding.

Past performance does not predict future performance. The value of the securities may decrease and investors may lose some or all of their investment.

VLS Securities LLC, a registered broker-dealer, will only transact business in states in which it is registered, unless it is otherwise excluded or exempted from being registered in such state.

Please see “VelocityShares Terms of Use” for additional information regarding use of this website.

Risk Disclosures Regarding the ETNs

Important information about the VelocityShares ETNs is contained within the current prospectuses. For more complete information regarding the VelocityShares ETNs, download a prospectus from this site, call 1-877-5-VELOCITY or 1-203-992-4301, or write to Prospectus Inquiry, VelocityShares LLC, 19 Old Kings Highway S, Darien, CT, 06820 to request a prospectus. You should read the prospectus carefully before making an investment decision.

The ETNs are only suitable for knowledgeable investors seeking daily exposure (including inverse or leveraged exposure) to the underlying index. The ETNs are intended for short-term trading, therefore investors with a horizon longer than one day trading should carefully consider whether the ETNs are appropriate for their investment portfolio.

Because the inverse leveraged ETNs and leveraged long ETNs are linked to the daily performance of the applicable underlying Index and include either inverse and/or leveraged exposure, changes in the market price of the underlying futures will have a greater likelihood of causing such ETNs to be worth zero than if such ETNs were not linked to the inverse or leveraged return of the applicable underlying Index.

The ETNs do not guarantee any return of principal at maturity and do not pay any interest during their term.

Although we intend to list the ETNs on NYSE Arca, a trading market for your ETNs may not develop. We are not required to maintain any listing of the ETNs on NYSE Arca or any other exchange.

The trading price of the ETNs may vary considerably before any valuation date (as defined in each prospectus), due, among other factors, to fluctuations in the price or the volatility of the underlying investment product, and other events that are difficult to predict. At higher levels of volatility, and since the ETNs are not principal protected, there is a significant chance of a complete loss of ETN value even if the performance of the index is flat.

The closing indicative value on each valuation date is determined in part by reference to the daily percentage change in the level of the underlying index. As a result, to the extent the closing indicative value of the ETNs is greater than or less than the initial indicative value, subsequent changes in the level of the index may have a bigger or smaller impact on the closing indicative value of the ETNs than if the closing indicative value remained constant at the initial indicative value. For example, assuming an initial indicative value of $100, if the closing indicative value of the ETNs increases above $100, a subsequent 1% daily change in the level of the index will result in more than a $1 decrease in the closing indicative value of the ETNs. Likewise, if the closing indicative value of the ETNs is less than $100, a 1% increase in the level of the index will result in less than a $1 increase in the closing indicative value of the ETNs.

If the level of the underlying index decreases or does not increase sufficiently (or if it increases or does not decrease sufficiently in the case of the inverse ETNs), to offset the effect of the Daily Investor Fee over the term of the ETNs, the investor will receive less than the principal amount of his investment upon early redemption, acceleration or maturity of the Notes.

Prior to maturity, you may, subject to certain restrictions described in the prospectus, offer the applicable minimum number of your ETNs to the issuer for redemption on an Early Redemption Date (as defined in the prospectus). You must offer for redemption at least the applicable minimum number of ETNs as set forth in the pricing supplement, or an integral multiple in excess thereof, at one time in order to exercise your right to cause the issuer to redeem your ETNs on any Early Redemption Date. In addition, the issuer may charge investors a redemption charge of a percentage of the stated principal amount of any ETN that is redeemed at the investor’s option, at a rate as indicated in the applicable pricing supplement.

Any payment on the Securities is subject to the ability of Credit Suisse AG to satisfy its obligations as they become due.

The risks listed above are not exhaustive. Investors should review the prospectus for each ETN, including all risk factors set forth therein, and consult their independent tax, accounting, legal and financial advisors before investing in any ETN.