Clear Street Completes Purchase of Fox River Algorithmic Trading Business from Instinet
NEW YORK – October 1, 2024 – Clear Street (“Clear Street”, “the Company”), a cloud-native financial technology firm on a mission to modernize the brokerage ecosystem, announced today that the firm has completed the purchase of the Fox River algorithmic trading business from Instinet. Clear Street Investment Banking advised Clear Street on the transaction, which was announced on July 16, 2024. Fox River provides a comprehensive suite of algorithmic execution solutions in U.S. and Canadian equities. These offerings cater to buy and sell-side firms, including many of the industry’s leading quant-driven funds.
“We are thrilled to welcome the Fox River team to Clear Street. Initial client interest has been fantastic so far, given Fox River’s high-performance algos, white glove service, long standing reputation for excellence and loyal client base. This transaction adds another key component to our value chain, particularly for clients who are quantitatively focused, and fits perfectly with our strategy to redefine service and tech functionality across the brokerage ecosystem,” said Chris Pento, Co-Founder and Chief Executive Officer of Clear Street.
Fox River will be integrated into Clear Street’s existing prime brokerage business and the firm’s cloud-native service platform, as well as enhancing the Company’s electronic trading capabilities.
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.
Help & support
Get supportContact
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). Copyright © 2024 Clear Street LLC. All rights reserved. Clear Street and the Shield Logo are Registered Trademarks of Clear Street LLC
