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Clear Street is now a ‘Category 1’ member of the renowned LME
Jacinda Fahey appointed CEO of UK and Europe to spearhead growth
NEW YORK, December 4, 2024–(BUSINESS WIRE)–Clear Street (“the Company”), a cutting-edge fintech organization dedicated to revolutionizing the brokerage sector, has announced the official unveiling of Clear Street UK. This follows recent approval from the Financial Conduct Authority (FCA). Additionally, Clear Street UK has attained Category 1 membership status with the London Metal Exchange (LME), marking a significant advancement in its expansion strategy beyond North America into the UK and wider European markets.
According to Ed Tilly, President and incoming CEO at Clear Street: “We are establishing a comprehensive institutional services platform built upon our innovative cloud-based technology. Our exceptional team facilitates various financial products including execution services and derivatives that empower our clients on global scales across diverse asset classes. The United Kingdom represents an essential market for us—a central hub in global finance that serves as an entry point into Europe and further afield. We are thrilled to solidify our presence here within a well-regulated environment known for its liquidity and extensive pool of institutional investors.”
Jacinda Fahey, leading Clear Street’s operations in both the UK and Europe remarked: ”The distinctive dynamics within the UK’s market make it an ideal setting for our international aspirations. Our accomplishments in the US have proven that our technology-first model succeeds tremendously, allowing us to introduce bespoke solutions tailored specifically for this emergent region. We have welcomed remarkable talent to our team based in London, propelling us into next year with optimism as we continue cultivating this ambitious workforce.”
Recognized as a Category 1 Member of LME—the oldest marketplace globally specializing in industrial metals—Clear Street joins an exclusive group previously limited to seven members. This designation allows direct access not only to LME’s historic trading arena known as ‘the Ring’ but also enhances electronic trading capabilities through platforms like LMEselect and other inter-office markets. Membership empowers Clear Street with vital insights regarding global metal pricing while equipping it to manage trades on behalf of institutional clients seamlessly.
The Future Looks Bright
Chris Smith, Chief Executive Officer at Clear Street Futures emphasized: “Securing this membership marks a crucial achievement within our international expansion framework which instantly broadens service offerings for clients across regions such as Asia and the Middle East who appreciate traditional open outcry methods from ‘the Ring’ for obtaining accurate pricing information. With commitment from our London-based team already established here, we’re confident about delivering unparalleled client value across EMEA regions.”
As Tilly concluded his statements: “The progress we’ve made towards achieving long-term client empowerment is evident through numerous initiatives taken throughout 2024 including entering futures clearing sectors along with launching support systems designed specifically around registered market makers active within US equities & options landscape! Highlights include finishing up strategic acquisitions complemented by maintaining robust engagement across varying institutions currently utilizing offered content effectively demonstrates why today sets off another exciting chapter toward enhancing capabilities worldwide!”
About Clear Street:
Clear Street aims not just at revitalizing brokerage operations but also ensuring participants interact effortlessly through advanced technological solutions coupled alongside premier service offerings; all aimed singularly towards navigating capital marketplaces consistently everywhere globally! Their proprietary cloud-centric toolkit provides everything needed—from financing arrangements down all avenues available—to mitigate risks encountered while aiming ultimately toward establishing one holistic interface suited uniquely regardless size or currency utilized thereafter! For further details visit clearstreet.io.
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