Clear Street Group

Ed Tilly, the former CEO of Cboe Global Markets, became Chief Executive Officer in 2025. The executive team includes Chief Operating Officer Jon Daplyn, a long-tenured trading-technology executive, and CFO Steve Bisgay. The combination of exchange leadership and hands-on infrastructure-building experience shapes the firm's ambition to replace legacy capital-markets plumbing directly, rather than iterating on it.

The firm services over 700 institutional clients including proprietary traders, hedge funds, family offices, broker-dealers, and ETF issuers. Volume comes from operating as a principal clearing broker-dealer on its own cloud-native infrastructure — clients connect directly to Clear Street's platform rather than through a legacy prime broker's stack. The firm also operates a dedicated Active & Pro Trading division and an outsourced trading desk launched in 2025.

Clear Street operates its own clearing broker-dealer and built a multi-asset clearing, custody, and financing platform from scratch — it does not white-label or depend on another broker-dealer's infrastructure. The platform processes equities, options, fixed income, and futures natively. The firm has deliberately avoided the layered 'modern UI on top of COBOL' model that other technology-first entrants have adopted.

The platform covers US equities (since 2019), US options (2021), fixed-income securities (October 2023), and futures clearing (April 2024), with cryptocurrency integration announced via a BitGo partnership in November 2025. Geographically, the firm is rooted in the United States, received FCA approval and opened in the UK in December 2024, and entered Asia-Pacific in February 2026 with the acquisition of Boom Securities.

Clear Street launched investment banking services in June 2023, co-headed by John D'Agostini and Nicholas Hemmerly. The group provides corporate access, equity research (launched November 2024), and advisory services, with a stated push into blockchain and digital assets in May 2025. The investment bank shares the same client base — corporate issuers, institutional investors, and sponsors — already transacting or clearing on the platform, effectively bundling capital-raising with execution and custody.

The firm has raised $1.0 billion in total capital from private investors, anchored by a $685 million Series B round closed in December 2023 (per the firm). Investor identities are not publicly disclosed. The capital base supports balance-sheet-intensive activities including principal clearing, financing, and prime brokerage margin extension.

Clear Street's platform is built as a cloud-native, API-based, horizontally scalable system with no dependency on mainframe-era technology. The firm claims all asset classes sit on a single platform with real-time data and risk management, enabling cross-margining and consolidated reporting that is harder to replicate on legacy multi-vendor stacks. The October 2025 global platform sales launch centralized client access to the full suite.