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Industry news

Clear Street acquires Fox River’s algorithmic trading business


02 October 2024 US
Reporter: Daniel Tison

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Image: Vanz_Studio/stock.adobe.com
Clear Street has completed the purchase of the Fox River algorithmic trading business from Instinet.

Clear Street Investment Banking advised Clear Street on the transaction, which was announced in July.

Fox River provides a suite of algorithmic execution solutions in US and Canadian equities, catering to buy and sell side firms, including quant-driven funds.

Clear Street will integrate Fox River into its existing prime brokerage business and cloud-native service platform to enhance the firm’s electronic trading capabilities.

Chris Pento, co-founder and CEO of Clear Street, says: “This transaction adds another key component to our value chain, particularly for clients who are quantitatively focused, and fits with our strategy to redefine service and tech functionality across the brokerage ecosystem.â€
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