Clear Street Group, a cloud-native provider of brokerage, clearing, and other capital markets services, filed on Tuesday with the SEC to raise what we estimate could be up to $1.0 billion in an initial public offering.
The company offers a single, cloud-native, end-to-end capital markets platform powered by a single real-time ledger. Clear Street states that its platform offers trading, risk management, and financing services. The company connects its infrastructure to banks, clearing houses, depositories, brokers, and exchanges. Clear Street generates revenue primarily through net financing revenue generated from customer margin debit, credit, and short balances, as well as through commissions, clearing fees, service fees, investment banking income, and client pass-through fees.
The New York, NY-based company was founded in 2018 and plans to list on the Nasdaq under the symbol CSIG. Goldman Sachs, BofA Securities, Morgan Stanley, UBS Investment Bank, and Clear Street are the joint bookrunners on the deal. No pricing terms were disclosed.
