The former co-founder of T3 and Public.com will spearhead 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.
Clear Street has announced the appointment of trading industry giant Sean Hendelman as Chief Executive Officer of its Active Trading division to better capitalize on this addressable market and enhance its presence in addition to the firm’s CenterPoint brand.
Sean Hendelman is better known as the co-founder of T3 and Public.com, two significant powerhouses in the trading industry. Having launched proprietary trading firm T3 in 2003 – primarily focused on providing traders with the infrastructure, tools, and support needed to engage in day trading and swing trading of stocks, options, and forex – Hendelman expanded the business and founded T3 Live and T3 Securities.
T3 Live operates as an educational platform aimed at traders. It offers a variety of training resources, including webinars, courses, and live trading sessions. The purpose of T3 Live is to provide real-time trading analysis and educational content to help traders improve their decision-making and trading strategies.
T3 Securities Inc is a broker-dealer providing brokerage services to clients. It handles execution services for equities, options, and ETFs. T3 Securities Inc offers its clients access to markets, facilitating the buying and selling of securities while complying with regulatory requirements.
In 2016, he became a co-founder of Public.com, a widely known discount broker. The investment platform recently launched the Public Media Network.
“This is exciting news for all of us at Clear Street”
As CEO of Active Trading, Sean Hendelman will spearhead 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, said: “This is exciting news for all of us at Clear Street. As we grow our business across the Institutional and Active client segments – Sean’s 20-plus year track record building a global trading platform makes him the right executive to capitalize on this important addressable market, where we intend to build an even more formidable presence in addition to our well-known CenterPoint brand.”
Sean Hendelman, CEO of Active trading at Clear Street, said, “Clear Street and the CenterPoint team have built a powerful product that gives active traders access to state-of-the-art trading tools powered by Clear Street’s proprietary, cloud-native prime brokerage platform. I’m looking forward to building on that success and delivering Clear Street’s technology, stability, and white-glove customer service to the growing active trading markets.”
Clear Street made key hires for prime brokerage
Clear Street has made several senior-level hires within its Institutional division, comprised of prime brokerage and professional clearing businesses. The New York-based diversified financial services firm further expanded its derivatives, algorithmic, and cap intro teams to support the 160+ new institutional clients Clear Street added to its prime brokerage platform over the past year.
Cory Solomon, Charlie Dietz, Wim Shih, George Jamgochian, Ashley DeSimone, and Tom Klein, are Clear Street’s key hires, which will enhance the company’s prime brokerage division at a critical point in time – Clear Street recently launched futures clearing and execution services on U.S. exchanges for global clients, including hedge funds, professional trading groups, and family offices. The firm previously launched professional clearing services for registered market-makers in U.S. equities and options.
Clear Street processes 2.5% of notional U.S. equities volume
The launch of futures clearing at Clear Street comes on the heels of the firm’s acquisition of React Consulting Services, LLC (“React”) and its proprietary futures clearing platform, BASIS, in July 2023.
BASIS was subsequently integrated into Clear Street’s existing cloud-native clearing, settlement, execution, and custody platform. 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.
In December 2023, Clear Street concluded a successful third tranche of Series B funding led by Prysm Capital which increased the firm’s valuation to $2.1 billion.
Clear Street is a member of the following futures exchanges, offering access to a range of products, including indexes, rates, and commodities: CME, ICE US, and NODAL. The Company is actively pursuing memberships with other major global futures exchanges.
