Clear Street, a New York-based diversified financial services firm, has launched clearing services for registered market makers in listed US equities and options, its first presence in the professional clearing market in close to a decade.
Powered by Clear Street’s proprietary, cloud-native prime brokerage platform, the company says its approach empowers US options market makers to gain comprehensive insights into the most effective strategies tailored to their needs, including global expansion and diversification into new asset classes and products.
“Clear 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,” said Kevin McCarthy, Chief Administrative Officer and Head of Clearing. “Our immediate focus is to collaborate closely with clients seeking to expand their current strategies while mitigating counterparty risk.
“As an independent prime broker, we can prioritise client interests without the constraints of standardised capital requirements or conflicting business agendas. This autonomy grants us greater flexibility and discretion in pricing, seamless integration of new products from exchanges, enhanced customisation, and alignment on risk and margin policies,” McCarthy added.
Clear Street is a member of twenty-nine (29) US listed equity and options exchanges and was recently approved by the Options Clearing Corporation (OCC) to provide clearing services to registered options market makers. Clear Street says it has built a proprietary clearing system with the scale and reliability needed to meet the demands of today’s high-performance market-making firms.
