2019 and Beyond

Chris Pento
Dec 18, 2019 · 4 min read

It’s been a great year at Clear Street. We’ve built a strong team, made tremendous progress on our technology platform, and become members of all major U.S. equity exchanges, including the NYSE and NASDAQ.

Before we rush off to celebrate the holidays, I’d like to share a bit more with you about the progress we’ve made and why I’m so optimistic about 2020.

Clear Street Team
Clear Street Team

The team is strong and growing.

When I last provided an update on our progress, in July, there were 30 of us at Clear Street. Today, there are more than 50 of us. By the end of next year, we will double that number. We’re growing fast.

We have been actively recruiting top engineers across the country. So far, we’ve added front end, back end, and dev ops engineers, data scientists, and user experience professionals from technology giants like Google and IBM as well as financial innovators like Bloomberg, Tower Research Capital, and IEX. They’re an outstanding group, led by my co-founder Sachin Kumar.

We have also started hiring experienced, senior level professionals from companies like Goldman Sachs, Jefferies, and Société Générale to develop and deliver institutional-quality services that will give our clients everything they need to trade, clear, and custody assets. Recent hires include:

Securities Lending

Charles Ross

Charles is a widely-recognized expert in securities lending with an outstanding reputation in the industry. Prior to Clear Street, Charles was responsible for a multi-billion dollar portfolio as co-head of the securities lending team at BNP Paribas. He previously held roles at Bank of America Securities and Pershing.

Joseph Gentile

Joseph has nearly 20 years of experience in prime services, securities lending, and trading at Citigroup, ITG, ETC, UBS, and Deutsche Bank.

They join Salvatore Cangialosi, Jack Nicosia, and Antonino Maneri, who have an additional 75 years of combined experience in securities lending.

Execution & Outsourced Trading

Joseph Riccardi

Joseph is a 20-year veteran of KCG Holdings (Virtu Financial), a global leader in market making and execution services. At KCG, Joseph was the head of cash trading for the firm’s broker dealer clients, covering both domestic and international markets.

Risk Management

Edward Kim

Edward is a an experienced market risk management professional. As Vice President of Prime Service Risk at Société Générale, Edward managed risk for key clients trading a full range of prime brokerage products including futures, equities, fixed income, options, and swaps. He has also held risk management roles at Newedge, Fimat, and J.P. Morgan Chase & Co.

Business Development

Vincent Lupo

Vincent is a widely-respected executive with decades of capital markets experience. Most recently, Vincent was the CEO of a clearing and custody provider to securities industry participants. He has also held senior roles at Jefferies, Neuberger Berman, and Morgan Stanley.

Joseph Vencil

Joseph is a senior executive with deep capital markets experience. Prior to Clear Street, Joseph was CEO of a boutique broker-dealer focused on execution and prime brokerage services. Additional senior roles include Albert Fried & Company, IXIS Capital Markets, and CSFB.

There are dozens more talented professionals, behind the scenes, working hard to get our platform, products, and services ready to go.

It’s been a pleasure working side-by-side with everyone this year. I’m looking forward to spending more time with the team in the years to come.

Our clearing and custody platform is in private beta.

At Clear Street, we are upgrading access to capital markets, starting with the core limitation of our current infrastructure — the clearing process that takes place after a trade is made.

We are modernizing clearing and custody with a cloud-native platform designed by former investment fund managers, clearing industry executives, and technology leaders.

In July, we started clearing transactions of U.S. securities and opened our platform in a private beta. Feedback has been very positive. We are looking forward to welcoming more customers onto our platform in the near future.

Clear Street is a now a member of all major exchanges.

In recent months, Clear Street became members of all major U.S. equity exchanges, including the NYSE, NYSE Arca, the CBOE equities exchanges and NASDAQ.

We are optimistic about the future.

We got into this business because we’d seen the growing problems that outdated systems are creating — decreased market access and innovation.

Ever since we started building Clear Street, the response to our mission has been overwhelming. Forward thinking traders and fund managers want to use the latest technology to start, build, and grow their businesses. We want to help.

Next year, we will expand access to our clearing and custody platform, launch new products and services, and welcome far more customers onto our platform.

It’s an exciting time to be at Clear Street. If you would like to be a part of it, please check out our open positions at clearstreet.io/careers.

Clear Street

News about Clear Street

Chris Pento

Written by

Co-Founder and CEO of Clear Street

Clear Street

News about Clear Street

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