Clear Street

Clear Street offers a cloud-based API infrastructure for securities clearing, settlement, and custody services. Its solutions also include electronic transaction execution, real-time reporting, and capital introduction. The company claims that users can create solutions and onboard institutional clients in 14 days using the platform.

Key customers and partnerships

Clear Street mainly focuses on the prime brokerage infrastructure for institutional investors, but plans to expand across asset classes and client bases to cater to professional traders, FinTechs, and market makers.

As of April 2023, Clear Street’s clients included around 200 institutional investors and “hundreds” of smaller trading entities.

Funding and financials

Clear Street noted in April 2023, that it saw a 500% increase in the number of institutional clients on its platform, while its daily transaction volume rose over 300% over the preceding year. Its financing balances also rose around 150% over the period. The company further noted that it processed around 2.5% of the gross notional US equities volume (amounting to around USD 10 billion in daily notional trades).

Clear Street raised USD 270 million in an extension to its Series B funding from Prysm Capital, in April 2023. The round valued the company at USD 2 billion (up from USD 1.7 billion in May 2022 ) and closely followed the company receiving an undisclosed sum of funding from IMC Investments, in February 2023. The company earmarked the funds for investment in expanding its reach to new markets, asset classes, and product developments, increasing its platform availability to market participants and offering solutions for clients looking to migrate to its platform.