Clear Street Launches in United Kingdom Following FCA Approval, Joins London Metal Exchange
UK selected due to critical role as global financial hub
Clear Street becomes the latest ‘Category 1’ member of the iconic LME
Jacinda Fahey appointed as CEO of UK and Europe to lead expansion
NEW YORK–(BUSINESS WIRE)–Clear Street (“Clear Street”, “the Company”), a cloud-native financial technology firm on a mission to modernise the brokerage ecosystem, today announced the formal launch of Clear Street UK, following recent Financial Conduct Authority (FCA) approval. Clear Street UK was also approved as a Category 1, Ring-dealing member by the London Metal Exchange (LME). The launch of Clear Street UK is a pivotal step in Clear Street’s expansion plans outside of North America, throughout the UK and into broader markets, including across Europe.
Ed Tilly, President and CEO-Elect of Clear Street said, “We are building a global, full-service institutional business powered by our cloud-based, financial technology platform and our best-in-class 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.”
Jacinda Fahey, CEO of Clear Street UK and Europe stated, “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.”
Clear Street has been approved as a Category 1 Member at the LME, the world’s oldest and largest market for industrial metals, a group that formerly had just seven members. This membership places Clear Street among a select group with direct access to the LME’s iconic trading floor, known as the Ring, as well as electronic trading via LMEselect and the inter-office market. The membership gives Clear Street 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.
Regarding the LME membership, Chris Smith, CEO of Clear Street Futures said, “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.”
Tilly continued, in closing, “In 2024, we rapidly progressed toward our long-term vision to empower clients to access and trade all products in all markets around the world. We expanded into futures clearing and execution services, and launched clearing for registered market makers in listed U.S. equities and options. We completed an exciting strategic acquisition, and finish the year supporting a robust client base of institutional investors and market participants. Today’s announcement is an early and exciting step in our global build out, adding to our suite of products and services, our growing global presence and our world-class teams who provide deep institutional knowledge and dedicated client-first service. We welcome the new hires we have made in London, and look forward to what lies ahead.”
About Clear Street:
Clear Street is modernizing the brokerage ecosystem with financial technology and services that empower market participants with real-time data and best-in-class products, tools and teams, to navigate capital markets around the world. Complemented by white-glove service, Clear Street’s cloud-native, proprietary product suite delivers financing, derivatives, execution and more to power client success, adding efficiency to the market and enabling clients to minimize risk, redundancy and cost. Clear Street’s goal is to create a single platform for every asset class, in every country and in any currency. For more information, visit https://clearstreet.io.
Clear Street does not provide investment, legal, regulatory, tax, or compliance advice. Consult professionals in these fields to address your specific circumstances. These materials are: (i) solely an overview of Clear Street’s products and services; (ii) provided for informational purposes only; and (iii) subject to change without notice or obligation to replace any information contained therein.
Products and services are offered by Clear Street LLC as a Broker Dealer member FINRA and SIPC and a Futures Commission Merchant registered with the CFTC and member of NFA. Additional information about Clear Street is available on FINRA BrokerCheck, including its Customer Relationship Summary and NFA BASIC | NFA (futures.org).
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