New York-based financial services firm Clear Street has launched a clearing service for market makers in listed US equities and options. The company claims that it has become the “first successful entry into the professional clearing market in close to a decade”.
The service is powered by Clear Street’s proprietary cloud-native prime brokerage platform, which provides an infrastructure that “supports an improved risk and margin policy model”. Clients can thus get insights into strategies that have been tailored for their needs, including for global expansion and diversification into new asset classes and products.
Because Clear Street is an independent prime broker, it can “prioritise client interests without the constraints of standardised capital requirements or conflicting business agendas,” says Kevin McCarthy, chief administrative officer and head of clearing at Clear Street. The autonomy allows the firm flexibility in pricing, integration of new products from exchanges, customisation, and alignment on risk and margin policies.
