Clear Street acquires Fox River鈥檚 algorithmic trading business
02 October 2024 US
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鈥檚 electronic trading capabilities.
Chris Pento, co-founder and CEO of Clear Street, says: 鈥淭his 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.鈥�
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鈥檚 electronic trading capabilities.
Chris Pento, co-founder and CEO of Clear Street, says: 鈥淭his 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.鈥�
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