Clear Street launches clearing service for market makers
04 April 2024 US
Image: Kiattisak/stock.adobe.com
Clear Street has launched a clearing service for registered market makers in listed US equities and options.
According to the New York-based financial services firm, this 鈥渕arks the first successful entry into the professional clearing market in close to a decade鈥�.
The service is powered by Clear Street鈥檚 cloud-native prime brokerage platform and enables US-registered market makers to gain insights into strategies tailored to their needs, including global expansion and their diversification into new asset classes and products.
Commenting on the release, Kevin McCarthy, chief administrative officer, says: 鈥淐lear 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.
鈥淥ur immediate focus is to collaborate closely with clients seeking to expand their current strategies while mitigating counterparty risk.鈥�
Clear Street CEO and co-founder Chris Pento comments: 鈥淐lear Street鈥檚 clearing offering aligns with our strategic vision to utilise our cloud-native prime brokerage platform to expand into new customer segments.
鈥淥ur ambition is to become a multi-asset provider of clearing and financing services to a global, institutional client base. The market is ready for a new provider focused on building technology that can scale across asset classes, client types and geographies.鈥�
According to the New York-based financial services firm, this 鈥渕arks the first successful entry into the professional clearing market in close to a decade鈥�.
The service is powered by Clear Street鈥檚 cloud-native prime brokerage platform and enables US-registered market makers to gain insights into strategies tailored to their needs, including global expansion and their diversification into new asset classes and products.
Commenting on the release, Kevin McCarthy, chief administrative officer, says: 鈥淐lear 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.
鈥淥ur immediate focus is to collaborate closely with clients seeking to expand their current strategies while mitigating counterparty risk.鈥�
Clear Street CEO and co-founder Chris Pento comments: 鈥淐lear Street鈥檚 clearing offering aligns with our strategic vision to utilise our cloud-native prime brokerage platform to expand into new customer segments.
鈥淥ur ambition is to become a multi-asset provider of clearing and financing services to a global, institutional client base. The market is ready for a new provider focused on building technology that can scale across asset classes, client types and geographies.鈥�
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