Clear Street, a New York-based independent prime broker, has received a strategic investment from IMC Investments, the venture capital arm of IMC, a proprietary trading firm and global market maker.
“Clear Street’s mission to modernize the capital markets infrastructure presents a compelling opportunity,” said Osi Lilian, IMC Investments co-lead.
“As a technology-first firm, IMC is therefore excited to collaborate with and be a part of the long-term success of Clear Street,” added Jurjen Koksma, IMC Investments co-lead.
Founded in 2018, Clear Street has built a proprietary, cloud-native prime brokerage platform that processes more than $10 billion in daily notional trading value of U.S. equities.
“The backing of IMC underpins the positive response Clear Street has received in the market,” said Chris Pento, CEO and Co-Founder of Clear Street. “Clients are demanding better technology and better service. We're answering that call with a platform that meets the needs of a modern marketplace.”
IMC’s investment complements Clear Street’s May 2022 $165 million Series B funding round, the firm’s first venture capital raise since its inception in 2018. In 2022, the firm onboarded more than 150 institutional prime brokerage clients and expanded its service areas in capital introduction, repo, securities lending, risk, and operations.
About Clear Street:
Clear Street is building modern infrastructure for capital markets. Founded in 2018 by industry veterans, Clear Street is an independent, non-bank prime broker working to solve the industry’s most neglected problem: legacy technology. The firm has built a proprietary, cloud-native, clearing and custody system to replace the legacy infrastructure used across capital markets – improving speed, access, and service for its clients. Clear Street’s first product is its equity finance platform, which processes more than $10 billion in trades every day. The firm’s goal is to create a single-source platform to serve all investor types, across all asset classes, globally. For more information visit https://clearstreet.io.
IMC is a leading global market maker with more than three decades of experience, and with offices in Europe, the US and Asia-Pacific. Our core business is to provide liquidity in financial assets on trading venues, and to deliver the best outcome in value and risk to investors. We employ state-of-the-art algorithms, statistical techniques, and innovative low latency technologies to execute our strategies. IMC engages in trading activities on its own account and closely complies with regulatory requirements set by (supra-)national authorities.
To learn more about investment opportunities or to reach out to our team, visit IMC Investments.