Clear Street Welcomes Sean Hendelman as CEO: Potential Impact on Crypto Trading (BTC, ETH)


Sean Hendelman Appointed as CEO of Retail Trading at Clear Street

  • Sean Hendelman, co-founder of T3 and Public.com, has been appointed as the CEO of Active Trading at Clear Street.
  • Clear Street aims to capitalize on the $10 billion active trading market with Hendelman at the helm.
  • Hendelman’s appointment is part of Clear Street’s expansion strategy, which includes key hires and the launch of futures clearing services.

Sean Hendelman, a trading industry veteran, has joined Clear Street as the CEO of its Active Trading division, marking a significant step in the firm’s expansion strategy in the active and retail trading business.

Hendelman’s Trading Industry Journey

Sean Hendelman is renowned for co-founding T3 and Public.com, two significant entities in the trading industry. T3, founded in 2003, is a proprietary trading firm focused on providing traders with the necessary infrastructure, tools, and support for day trading and swing trading of stocks, options, and forex. Hendelman later expanded the business and founded T3 Live and T3 Securities. T3 Live serves as an educational platform for traders, offering training resources, real-time trading analysis, and educational content. T3 Securities Inc is a broker-dealer providing brokerage services to clients, handling execution services for equities, options, and ETFs.

Hendelman’s Role at Clear Street

As CEO of Active Trading, Hendelman will lead Clear Street’s growth in the active and retail trading business, supporting the company’s further expansion in the roughly $10 billion active trading market. Chris Pento, CEO and Co-Founder of Clear Street, expressed excitement about Hendelman’s appointment, citing his 20-plus year track record in building a global trading platform as a key asset for the company’s growth strategy.

Clear Street’s Expansion Strategy

Clear Street has made several senior-level hires within its Institutional division, which includes prime brokerage and professional clearing businesses. The firm has expanded its derivatives, algorithmic, and cap intro teams to support the new institutional clients added to its prime brokerage platform over the past year. These strategic hires and expansion of services underscore Clear Street’s commitment to enhancing its prime brokerage division.

Clear Street’s Market Presence

Clear Street currently processes around 2.5% of the notional U.S. equities volume, equivalent to roughly $10 billion worth of activity through its platform. The firm’s recent acquisition of React Consulting Services and its proprietary futures clearing platform, BASIS, further strengthens its market presence. The successful third tranche of Series B funding led by Prysm Capital in December 2023 increased the firm’s valuation to $2.1 billion.

Conclusion

Sean Hendelman’s appointment as CEO of Active Trading at Clear Street marks a significant development in the firm’s expansion strategy. With a focus on capitalizing on the $10 billion active trading market and enhancing its prime brokerage division, Clear Street is poised for substantial growth in the trading industry.

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Marisol Navaro
Marisol Navarohttps://en.coinotag.com/
Marisol Navaro is a young 21-year-old writer who is passionate about following in Satoshi's footsteps in the cryptocurrency industry. With a drive to learn and understand the latest trends and developments, Marisol provides fresh insights and perspectives on the world of cryptocurrency.
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