Clear Street Promotes Technology & Client Service with Executive Organizational Changes

Engineering and Operations Unite Under COO Role

Launch of Chief Commercial Officer with Focus on Client Service

Strategic Moves Emphasize Collaboration & Product Innovation

Raja Bhatia Joins as CTO of Clear Street Active, Trading and Risk

NEW YORK – January 22, 2025 – Clear Street Group Inc., (“Clear Street”, “the Company”) a cloud-native financial technology firm on a mission to modernize the brokerage ecosystem, today announced key organizational changes designed to further align its technology focus, operational excellence and client service. Effective immediately, the firm has appointed Jonathan “Jon” Daplyn as Chief Operating Officer (COO). Daplyn joined Clear Street in 2023 as Chief Information Officer, and succeeds the Company’s former COO, Andy Volz, who takes on the newly created role of Chief Commercial Officer, created to prioritize all things related to clients. The pre-existing role of Chief Information Officer becomes three Chief Technology Officer (CTO) roles across Clear Street’s business divisions.

Ed Tilly, CEO of Clear Street, commented, "As we begin 2025, which we expect will be another banner year for Clear Street, we’ve re-organized with a focused approach to innovation and client service. These leadership changes optimally align our organization for collaboration across technology, engineering, operations and sales. We have a winning combination of world-class client service and technology, and by listening intently to our clients' needs and responding with innovative solutions, we will continue to deliver exceptional value to our clients as they navigate the capital markets.”

The appointment of Andy Volz as Chief Commercial Officer marks a key step in Clear Street's continued focus on delivering value to an increasing array of clients. In this role, Volz will lead the firm's commercial strategy, overseeing the cultivation of deeper client relationships and spearheading efforts to identify new market opportunities.Volz will maintain his position as CEO of Clear Street LLC, the Company’s regulated broker dealer.

Andy Volz, Chief Commercial Officer of Clear Street commented, “I'm excited to increase my impact at Clear Street as the Chief Commercial Officer. Clear Street has always put clients at the center of everything we do, and I look forward to building on that foundation as we enter our next phase of growth.”

In his expanded role as COO, Daplyn will report directly to Ed Tilly, CEO of Clear Street, and oversee the firm's global operations while leading a newly structured technology organization, comprising three new departmental Chief Technology Officers (CTOs). Each CTO will lead specialized technology teams focused on key business verticals, ensuring deep domain expertise and targeted innovation across the Company's core offerings. This transformation reflects Clear Street's vision to structurally align technology and engineering capabilities that will foster greater efficiency across the organization and reflects its commitment to modernizing the brokerage ecosystem.

Jon Daplyn, Chief Operating Officer of Clear Street commented, “This new structure allows us to better leverage our technological capabilities across the firm, further ensuring technology is at the heart of everything we do. By more closely aligning our technology and operations teams we enable more collaboration and ultimately, innovation. I am excited to congratulate the two new CTOs we have promoted from within the Clear Street talent pool, Hari Godbole and Mike Mallahan, and also welcome Raja Bhatia to Clear Street as he takes on one of the three new CTO roles. I could not be prouder to be part of this exceptional Clear Street team. We have accomplished a huge amount in a short span of time and I’m excited to demonstrate what we can do in 2025 and beyond."

New Chief Technology Officer (CTO) Structure

As part of this new structure, Clear Street has appointed Raja Bhatia as CTO of Clear Street Active, Trading and Risk, where he'll spearhead technology initiatives across Execution and Risk as we look to dramatically grow our Active business.A veteran in financial technology, Bhatia brings 17+ years of experience building high-performance trading infrastructure and scaling engineering teams.

Most recently at Alpaca Markets as CTO, Bhatia revolutionized stock and crypto investing through API infrastructure. His track record includes developing proprietary self-clearing platforms, algorithmic trading systems and FIX gateways for institutional clients. He also ran a successful algorithmic crypto trading operation and led engineering at Validere, where he pioneered IoT solutions for commodity trading.

His expertise spans the full spectrum of modern trading technology – from sensitive execution systems to robust risk management frameworks and complex clearing operations. Bhatia has consistently built and led high-performing engineering teams that have delivered critical trading infrastructure for both institutions and professional traders.

Bhatia will work alongside two other CTOs, both of whom were promoted from within Clear Street. Mike Mallahan has been promoted to CTO for Corporate and Infrastructure Engineering and Hari Godbole has been promoted to CTO for Institutional Securities.

Raja Bhatia, CTO of Clear Street Active, Trading and Risk commented, “I’m thrilled to join Clear Street at this pivotal moment. The opportunity to lead technology initiatives aligns perfectly with my passion for architecting industry-leading trading infrastructure that drives real market evolution. Clear Street’s commitment to modernizing the capital markets ecosystem resonates deeply with what sophisticated market participants demand today. I look forward to working alongside our exceptional team to deliver on innovative solutions that will fundamentally transform how our clients navigate and succeed in the markets.”