FCA approves Clear Street’s UK launch
04 December 2024 UK
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Clear Street has formally launched in the UK, following approval from the Financial Conduct Authority (FCA).
The launch of Clear Street UK is a pivotal step in the firm’s expansion plans outside of North America, throughout the UK and into broader markets, including across Europe, the firm says.
Clear Street has also been approved as a Category 1 Member by the London Metal Exchange (LME).
This membership places Clear Street among a select group with direct access to the LME’s trading floor, known as the Ring, as well as electronic trading via LMEselect and the inter-office market.
Regarding the LME membership, Chris Smith, CEO of Clear Street Futures, comments: “This is a significant milestone in our global growth strategy which immediately adds to our client service capabilities, particularly for many clients in Asia and the Middle East who value the Ring’s open outcry trading for official pricing.
“With a dedicated London-based team in place, we are confident in our ability to deliver exceptional value to clients across EMEA, Asia and beyond.”
According to Clear Street, the membership provides access to global reference prices for the metals community and allows the company to issue LME contracts, execute trades on behalf of institutional clients, and clear transactions seamlessly.
Commenting on the news, Clear Street UK and Europe CEO Jacinda Fahey says: “The UK’s unique market dynamics and its role as a bridge to Europe make it an unparalleled choice for our international expansion.
“Our success in the US has demonstrated the value of our technology-driven approach, and we are excited to bring our client-centric solutions to this new market. We have made a number of fantastic hires here in London and we are enthusiastic to head into the new year with such a competitive and fast-growing team.”
Ed Tilly, president and CEO-elect of Clear Street, adds: “We are building a global, full-service institutional business powered by our cloud-based, financial technology platform and our teams who provide financing, derivative products, execution services and more, empowering our clients for success across geographies, asset classes and mandates.
“The UK is a critical market for us as a financial hub worldwide and a gateway to Europe and beyond. We are excited to make our mark official in the UK, with its transparent, strong and proven regulatory framework, liquid markets and vast institutional investor population.”
The launch of Clear Street UK is a pivotal step in the firm’s expansion plans outside of North America, throughout the UK and into broader markets, including across Europe, the firm says.
Clear Street has also been approved as a Category 1 Member by the London Metal Exchange (LME).
This membership places Clear Street among a select group with direct access to the LME’s trading floor, known as the Ring, as well as electronic trading via LMEselect and the inter-office market.
Regarding the LME membership, Chris Smith, CEO of Clear Street Futures, comments: “This is a significant milestone in our global growth strategy which immediately adds to our client service capabilities, particularly for many clients in Asia and the Middle East who value the Ring’s open outcry trading for official pricing.
“With a dedicated London-based team in place, we are confident in our ability to deliver exceptional value to clients across EMEA, Asia and beyond.”
According to Clear Street, the membership provides access to global reference prices for the metals community and allows the company to issue LME contracts, execute trades on behalf of institutional clients, and clear transactions seamlessly.
Commenting on the news, Clear Street UK and Europe CEO Jacinda Fahey says: “The UK’s unique market dynamics and its role as a bridge to Europe make it an unparalleled choice for our international expansion.
“Our success in the US has demonstrated the value of our technology-driven approach, and we are excited to bring our client-centric solutions to this new market. We have made a number of fantastic hires here in London and we are enthusiastic to head into the new year with such a competitive and fast-growing team.”
Ed Tilly, president and CEO-elect of Clear Street, adds: “We are building a global, full-service institutional business powered by our cloud-based, financial technology platform and our teams who provide financing, derivative products, execution services and more, empowering our clients for success across geographies, asset classes and mandates.
“The UK is a critical market for us as a financial hub worldwide and a gateway to Europe and beyond. We are excited to make our mark official in the UK, with its transparent, strong and proven regulatory framework, liquid markets and vast institutional investor population.”
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