Clear Street is preparing to make a splash in the U.S. public markets, targeting a valuation of as much as $11.8 billion in its upcoming initial public offering. The securities and derivatives broker confirmed its ambitions on Wednesday, as renewed optimism and record equity market highs inject fresh momentum into the IPO landscape.
IPO Market Gains Serious Momentum in Early 2026
After a sluggish stretch tied to last year’s unprecedented U.S. government shutdown, the IPO market is showing clear signs of revival. Early 2026 is shaping up to be one of the most active periods in years, with eight companies expected to raise at least $100 million each through New York listings this week alone.
According to Renaissance Capital, this marks the busiest week for large-scale offerings since 2021, signaling that investor appetite for new listings is back in force.
Deal Size, Pricing, and Investor Interest
Clear Street aims to raise as much as $1.05 billion by offering 23.8 million shares, priced between $40 and $44 each. Interest from major institutional players has already surfaced, with funds managed by BlackRock reportedly considering the purchase of up to $200 million worth of shares.
The company plans to list on the Nasdaq under the ticker symbol CLRS, positioning itself alongside some of the most actively traded financial firms in the market.
From Startup to Full-Service Financial Platform
Founded in 2018 as a prime brokerage platform, Clear Street has rapidly expanded beyond its original scope. Today, the New York–based firm operates across prime brokerage, investment banking, and equity research—diversification that has helped fuel its recent growth.
An IPO would cap off a standout year for the company. Clear Street expects net revenue between $1.04 billion and $1.06 billion in 2025, more than doubling from $463.6 million the previous year—an impressive leap by any Wall Street standard.
Prime Brokerage’s Moment in the Spotlight
Prime brokerage has become a critical engine within the financial ecosystem, offering hedge funds tools to manage risk, track portfolios, and scale operations. The sector enjoyed a banner year as large multi-strategy hedge funds successfully navigated volatility and delivered strong returns.
Rising company valuations and a steady influx of new hedge funds have further boosted demand for prime brokerage services, including securities lending and cash financing to support complex, large-scale trades.
Heavyweight Banks Lead the Offering
Clear Street’s IPO is being led by an all-star lineup of underwriters, including Goldman Sachs, Bank of America Securities, Morgan Stanley, and UBS Investment Bank, alongside Clear Street itself.
With market conditions improving and investor demand building, Clear Street’s public debut could become one of the defining Wall Street events of early 2026—both for the firm and for an IPO market eager to reclaim its momentum.
