Clear Street

Clear Street is a New York-based financial technology and brokerage company founded in 2018 that aims to modernize the brokerage ecosystem. The company initially provides a technology-driven prime brokerage platform for institutional investors. Clear Street offers a full-service platform that includes execution, security financing, clearing, custody, and capital introduction services for U.S. equities and options.
The company says it services hundreds of institutional clients and supports around $50 billion in customer balances.
== History ==
Clear Street was founded in 2018 with the goal of modernizing the brokerage ecosystem. The company's mission from the start was to create a single, comprehensive platform serving all investor types across global asset classes. 
To achieve this, Clear Street developed a proprietary, cloud-native system designed to replace legacy infrastructure in capital markets. Its major offering was an equity finance platform capable of processing more than $10 billion in daily trades. 
In May 2022, Clear Street raised $165 million in the first part of its Series B funding round, followed by an additional $270 million in April 2023, which valued the company at $2 billion. Throughout 2022 and 2023, the company expanded its offerings to include capital introduction and repurchase agreement services, while also enhancing its securities lending capabilities and updating client-facing portals.
Clear Street's growth continued, with a 500% increase in institutional clients and a 300% growth in daily transactional volume by April 2023. In July 2023, Clear Street acquired React Consulting Services, LLC and its proprietary futures clearing platform, BASIS, which was then integrated into Clear Street’s existing platform. 
The company received further funding in December 2023, which increased Clear Street’s Series B to $685 million and the firm’s valuation to $2.1 billion. It also made a significant addition to its leadership team in July 2024 with the appointment of Edward Tilly as president.
The company expanded into U.S. futures clearing services in April 2024, with Chris Smith, the founder of former Ring dealer ED&F Man Capital Markets, heading up the unit. Clear Street also announced a definitive agreement to acquire Instinet’s Fox River algorithmic trading business, which caters to many of the industry’s leading quant-driven funds.
In December of 2024, Clear Street joined the London Metal Exchange as a dealer on its open-outcry trading floor. The move is part of a broader expansion drive across Europe, the Middle East and Asia, Clear Street said in a statement on December 4. The company had obtained regulatory approvals to set up a UK trading operation.
== Products and Services ==
Clear Street offers a range of financial products and services, primarily focused on modernizing the brokerage ecosystem. Based on the latest information, their offerings include:
*Prime Brokerage Platform: 
*Clearing Services:
*U.S. Equities and Options: 
*Futures:
*Custody Services: 
*Execution Services: 
*Financing Services:
*Capital Introduction: 
Repurchase Agreement Services: 
*Securities Lending: 
*Fixed-Income Securities: Clear Street provides clearing, custody, and financing services for fixed-income securities.
== Key People ==
File:Chris Pento.png|Chris Pento, Chief Executive Officer And Co-founder
File:Sachin Kumar.png|Sachin Kumar, Chief Technology Officer And Co-founder
File:EdTilly-ClearStreet300x332px.png|Ed Tilly, President
File:Andy Volz.png|Andrew Volz, Chief Operating Officer
File:Atul Pawar.png|Atul Pawar, Chief Risk Officer
File:Christy Moccia.png|Christy Moccia, Chief Compliance Officer
File:Jon Daplyn.png|Jon Daplyn, Chief Information Officer
File:Chris Smith.png|Chris Smith, Chief Executive Officer, Clear Street Futures
File:Tania Zivkovic.png|File:Tania Zivkovic.png|Tania Zivkovic, Chief People Officer
File:Steve Bisgay.png|Steve Bisgay, Chief Financial Officer
File:Kenneth Sicklick.png|Kenneth Sicklick, Chief Legal Officer
File:Sean Hendelman.png|Sean Hendelman, Chief Executive Officer, Clear Street Active
File:Ashley Desimone.png|Ashley DeSimone, Chief Marketing Officer
== References ==
Category:Technology Firms
Category:Prime Brokers