Clear Street has launched clearing services for registered market makers in listed US equities and options.
The move represents Clear Street’s first successful entry into the professional clearing market in almost a decade.
Kevin McCarthy
The offering leverages the firm’s proprietary, cloud-native prime brokerage platform, to allow users comprehensive insight into effective strategies.
Benefits include: a tailored approach, potential for global expansion, diversification into new asset classes and products.
Kevin McCarthy, chief administrative officer and head of clearing said: “Clear Street is entering the space with new technology that gives us the agility to deliver new markets and products to clients, which has historically been a challenge for incumbents.
“[…] As an independent prime broker, we can prioritise client interests without the constraints of standardised capital requirements or conflicting business agendas. This autonomy grants us greater flexibility and discretion in pricing, seamless integration of new products from exchanges, enhanced customisation, and alignment on risk and margin policies.”
Clear Street confirmed that its immediate focus is on collaborating with clients in order to effectively expand its strategies while simultaneously mitigating counterparty risk.
The move follows the successful third tranche of Clear Street’s Series B funding in December 2023 which raised the firm’s valuation to $2.1 billion.
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Chris Pento, chief executive and co-founder of Clear Street explained: “Clear Street’s professional clearing offering aligns with our strategic vision to utilise our cloud-native prime brokerage platform to expand into new customer segments.
“Our ambition is to become a multi-asset provider of clearing and financing services to a global, institutional client base […] we’re looking forward to welcoming our first market-maker clients.”