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Clear Street, a US cloud-based financial technology firm, has launched operations in the UK after receiving approval from the Financial Conduct Authority (FCA). The company has also been approved as a Category 1 Ring-dealing member of the London Metal Exchange (LME).
Ed Tilly, President and CEO-Elect, 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."
Jacinda Fahey has been appointed CEO of Clear Street UK and Europe to lead the expansion. The company's Category 1 membership at the LME, previously limited to seven members, provides direct access to the exchange's Ring trading floor, electronic trading platform LMEselect, and inter-office market.
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."
The expansion follows Clear Street's growth in 2024, which included launching futures clearing and execution services, and clearing for registered market makers in US equities and options. The company aims to create a single platform for trading across all asset classes, currencies and countries.
