Clear Street, a cloud-native financial technology firm providing prime brokerage services, has formally launched Clear Street UK, having recently secured approval from UK regulator the Financial Conduct Authority (FCA).

Clear Street UK has also been approved as a Category 1, ring-dealing member by the London Metal Exchange (LME).

In a press statement, Ed Tilly, President and CEO-Elect of Clear Street, said: “We are building a global, full-service institutional business powered by our cloud-based, financial technology platform and our best-in-class teams who provide financing, derivative products, execution services and more, empowering our clients for success across geographies, asset classes, and mandates. The UK is a critical market for us as a financial hub worldwide and a gateway to Europe and beyond."

As well as direct access to the LME's trading floor, Clear Street also now has access to global reference prices for the metals community allowing the company to issue LME contracts, execute trades on behalf of institutional clients, and clear transactions.