US brokerage firm Clear Street is ramping up its UK operations with a major push into outsourced trading and synthetic prime brokerage, targeting a growing pool of under-serviced hedge funds and asset managers, according to a report by Financial News.

The $2.1bn fintech firm launched its UK arm in December 2024 following regulatory approval, and now employs around 70 staff in London. The buildout is part of a broader strategy to win business from mid-sized clients increasingly left behind by large banks, according to Jacinda Fahey, Chief Executive of Clear Street UK and Europe.

The firm will roll out synthetic prime services — where leverage is provided via derivatives — later this year, with cash prime brokerage planned for early 2026. Its outsourced trading unit is already operational, following the May hire of four former UBS executives. UBS exited the outsourced trading space earlier this year, creating what Fahey sees as a prime opportunity to onboard displaced clients.