Clear Street releases futures clearing and execution services
30 April 2024 US
Image: Irina_Sharnina/stock.adobe.com
New York-based financial services firm Clear Street has launched its futures clearing and execution services on US exchanges for global clients.
The services will provide for hedge funds, professional trading groups, and family offices.
After more than two decades of futures commission merchant (FCM) consolidation, the firm says it can now offer institutions the necessities to clear, custody, execute, and finance US equities and options.
In addition, the services will enable clients to clear, custody, and finance fixed income securities, and clear futures.
The announcement follows the firm’s launch of a clearing service for market makers in listed US equities and options on 4 April, and its acquisition of React Consulting Services, including React’s futures clearing platform, BASIS, in July 2023.
Clear Street Futures CEO Chris Smith says: “Intensified competition, increased capital requirements, technological advancements, and evolving global trading dynamics have driven substantial FCM consolidation, leaving many institutional participants like hedge funds, corporates, and professional trading groups with limited clearing options.
“The current landscape underscores the critical need for a new player with technology that enables firms to navigate the market in real-time amid escalating volatility, regulatory shifts, and rapid changes.”
Chris Pento, CEO and co-founder of Clear Street, adds: “This launch marks a significant milestone in a multi-year project aimed at establishing a cohesive prime brokerage and futures offering.”
The services will provide for hedge funds, professional trading groups, and family offices.
After more than two decades of futures commission merchant (FCM) consolidation, the firm says it can now offer institutions the necessities to clear, custody, execute, and finance US equities and options.
In addition, the services will enable clients to clear, custody, and finance fixed income securities, and clear futures.
The announcement follows the firm’s launch of a clearing service for market makers in listed US equities and options on 4 April, and its acquisition of React Consulting Services, including React’s futures clearing platform, BASIS, in July 2023.
Clear Street Futures CEO Chris Smith says: “Intensified competition, increased capital requirements, technological advancements, and evolving global trading dynamics have driven substantial FCM consolidation, leaving many institutional participants like hedge funds, corporates, and professional trading groups with limited clearing options.
“The current landscape underscores the critical need for a new player with technology that enables firms to navigate the market in real-time amid escalating volatility, regulatory shifts, and rapid changes.”
Chris Pento, CEO and co-founder of Clear Street, adds: “This launch marks a significant milestone in a multi-year project aimed at establishing a cohesive prime brokerage and futures offering.”
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