Clearpool Group

Clearpool Group, established in 2014, operates as a provider of electronic trading solutions and an agency broker-dealer based in New York. The company was founded by Joseph Wald, who served as CEO, Brian Schaeffer as President, and Ray Ross as CTO. Wald brought extensive experience from the fintech sector, having previously been the CEO and co-founder of EdgeTrade, an electronic trade execution business acquired by Knight Capital Group in 2008. Schaeffer's background includes over two decades in capital markets, starting as a clerk on the New York Stock Exchange and eventually becoming CEO of Van der Moolen Capital Markets. Ross contributed his technological expertise, having been a Managing Director at Knight Capital Group, where he was responsible for the technology behind their electronic agency algorithmic and market access platform.

The firm offers electronic trading solutions tailored for the evolving equity market microstructure, serving a client base of over 100 U.S. broker-dealers. Clearpool's business model centers on providing its clients with greater transparency and control over their trading executions. The company generates revenue through its trading technology and execution services. A significant milestone for Clearpool was its acquisition by BMO Financial Group, which was announced in January 2020 and completed in April 2020. Following the acquisition, Clearpool continues to operate as a separate brand and broker-dealer, ensuring the confidentiality of client information through information barriers.

Clearpool's main offering is its Algorithmic Management System (AMS), a cloud-based platform that provides a fully customizable suite of algorithmic trading tools. The AMS is designed to give market participants the ability to manage their own algorithmic trading technology, offering detailed visibility and control over routing protocols and execution. This allows clients, primarily broker-dealers, to achieve better-quality executions and differentiate their offerings to their own buy-side customers. The platform also includes features for venue analysis and real-time transaction cost analysis, which helps clients optimize performance and costs.

Keywords: electronic trading solutions, agency broker-dealer, Algorithmic Management System, AMS, equity market microstructure, execution services, algorithmic trading, financial technology, broker-dealer technology, trade execution, market access, routing transparency, transaction cost analysis, BMO Financial Group, Joseph Wald, Brian Schaeffer, Ray Ross, capital markets technology, institutional trading, order routing