The New Standard in Market Access

The technical infrastructure that funds use to trade in markets around the world is outdated. It’s so outdated that it complicates market access and constricts growth.

At Clear Street, our goal is to create a new standard in market access. We are building the next generation of market infrastructure that simplifies market access and expands growth opportunities.

Today, most funds get market access through a specialized type of broker called a prime broker, typically a large, multi-national bank.

The problem is that banks process trades using systems that are up to 50 years old. They were built for what we needed them to do in the 1970s and ’80s, not what we need them to do today.

Banks update these systems where they can, layer on new technology, and paper over the gaps with manual processes.

The new standard in market access

Funds pay the price for outdated technology

As the years pass, the cost of banks’ aging systems, fragmented infrastructure, and manual processes add up. And it’s the funds that pay the price.

Getting access is difficult. Losing access is common.

Prime brokers have hurdle rates, guaranteed minimum annual fees, which can be as high as $2 million per year. Funds that do not generate enough fees to meet the hurdle are asked to leave.

Adding financial products can take six months or more.

Funds need to set up access every time they want access to new markets or trade new financial products. It’s an expensive, time-consuming, and repetitive process that slows growth.

Reporting is error-prone.

Common reporting problems include:
The scraping and parsing of data from frequently changed PDFs leads to reporting errors.
Compiling global risk data manually creates errors along with reporting delays.
Late transaction data (often a month after the fact) delays accurate performance reports.
Funds pay the price for outdated technology

Next-Gen Market Infrastructure

Clear Street has assembled a team of industry insiders with decades of experience managing multi-asset funds, prime brokerage services, and large-scale clearing platforms to build the next generation of global market infrastructure.

The team is building a trading, clearing, and custody platform that will connect funds to every product and every market in the world. It’s built on a cloud-based platform using a service-oriented architecture, designed to be flexible, scalable, and technology-neutral.

“Funds will be able to change what, where, and how they trade by changing a few lines of code.”

Funds will be able to change what, where and how they trade by changing a few lines of code. Turning on access to new products and markets will take minutes, not months. A clean, simple API will connect funds with real-time trading data on every product in every market. Funds will use it to know how much a trade will cost and how it will impact risk metrics, before the trade gets executed.

Clear Street’s approach is proven. It draws from technologies, insights, and experience from the world’s largest cloud platform providers, which have helped millions of businesses across a number of industries simplify operations, reduce costs, and scale faster.

Expanding Opportunities

Clear Street delivers everything funds need, using a technology platform built for growth.

Simple Market Access

Seamlessly connect to capital markets: no hurdle rates, no hassles.

Seamless Expansion

Add new products and markets in minutes.

Good Data

Access real-time data on all of your assets.

Useful Tools

Streamline your business with time-saving tools that straighten the messy areas of the markets.

Always Improving

Our goal is to have the fastest rate of innovation in the industry. We continuously ship improvements to our products and services, based on feedback from our customers.

A Boom in Fund Growth

The next generation of high-growth funds will be built on Clear Street’s platform. Getting started will be easier with simple market access and lower upfront investments. And growth will be faster with access to increased opportunities, capabilities, and services.
This is the future we’re building at Clear Street — one where the bounds of what’s possible aren’t limited by yesterday’s technology. They’re expanded by tomorrow’s.