The prime brokerage business is capital intensive. Our clients need liquidity and stability, which stem from a strong financial base, experienced management, and solid relationships with financial backers.
With that in mind, we have been consistently adding to our capital base, in anticipation of entering the prime brokerage market in 2021. We started Clear Street in 2018 with just $11 million in capital. As of today, we have over $200 million on hand to support our continued expansion.
Strong business performance has been a key driver of capital growth. Consistent earnings have improved our overall capital position. They have also led to substantial interest from the investment-grade debt capital markets.
In October of this year, we completed a $50 million bond offering, our second issuance to date. We were happy to see two of the largest investors in our first offering participate in the second, along with six new investors.
I should note, as well, that we have not taken on any outside equity investors at this time. Clear Street remains 100% founder- and employee-owned.
Clear Street will continue to expand its capital base, in the years to come, to further strengthen our capital position, provide liquidity to customers, and welcome a wide range of customers to our platform.
Clear Street does not provide investment, legal, regulatory, tax, or compliance advice. Consult professionals in these fields to address your specific circumstances. These materials are: (i) solely an overview of Clear Street’s products and services; (ii) provided for informational purposes only; and (iii) subject to change without notice or obligation to replace any information contained therein.
Products and services are offered by Clear Street LLC as a Broker Dealer member FINRA and SIPC and a Futures Commission Merchant registered with the CFTC and member of NFA. Additional information about Clear Street is available on FINRA BrokerCheck, including its Customer Relationship Summary and NFA BASIC | NFA (futures.org).