Industry Luminaries Duncan Niederauer, Tiger Williams, Victor Calaba, John Willian, Mehmet Kinak and JJ Kinahan Join the ClearList Team
Regulators Grant ClearList LLC’s Application to Operate an ATS as Momentum Builds to Become the Equities Marketplace for Private Company Securities
ClearList, an electronic trading platform that will enhance price discovery of private company securities while providing secondary liquidity for those securities, today announced its industry advisory board, an all-star line-up of trading and investment experts.
It was also announced today that FINRA granted the application of ClearList LLC for membership with FINRA and to engage in the operation of an alternative trading system (the “ClearList ATS”), further paving the way for ClearList to offer secondary trading in private company securities on its platform.
“ClearList is honored to have a prestigious team of advisors who are some of the most innovative, forward-thinking leaders in the trading and investment industries,” said ClearList CEO Bill White. “Their deep experience will be invaluable as ClearList prepares to disrupt the marketplace for secondary trading of private securities. As we continue to prepare to officially launch trading, we are working with a first wave of enterprising private companies that are extremely interested in tapping the liquidity, transparency and issuer-centric approach that ClearList will offer.”
The ClearList advisory board is composed of:
- Duncan L. Niederauer, former CEO of the New York Stock Exchange (NYSE), whose work and leadership in the exchange and clearing industries will be instrumental in helping to guide ClearList. Niederauer said, “I work closely every day with exciting and impactful private companies that are looking for a solution to their capital markets needs. ClearList delivers a comprehensive, issuer-friendly solution that is long overdue. ClearList will make trading private securities nearly as simple, efficient and cost-effective as the trading of public company securities.”
- David “Tiger” Williams, the founder and managing member of Williams Trading, a leading institutional brokerage firm. “The pioneering team at ClearList is creating a trading platform for private securities that I believe will quickly become the clear industry leader,” said Williams. “Secondary trading of private securities has historically been extremely cumbersome, costly and inefficient. ClearList has developed an unprecedented and vastly improved model for private company pricing and secondary trading.” In addition to serving on ClearList’s advisory board, Williams is also an investor in the platform.
- John Willian, a former senior partner of Goldman Sachs, Head of Prime Brokerage Services who spent over 28 years in a variety of sales, trading and capital markets related roles at the firm, most recently as the global head of fixed income sales. “ClearList is a superb offering, powered by tested, state-of-the-art technology and a highly experienced team of industry professionals,” said Willian. “I think that ClearList will be a gamechanger for private companies.”
Other advisory board members as previously announced are:
- Victor Calaba, Managing Director at Tudor Investment Corporation.
- Mehmet Kinak, Global Head of Systematic Trading and Market Structure at T. Rowe Price.
- Joe “JJ” Kinahan, Chief Market Strategist at TD Ameritrade.
Today’s announcements are the latest milestones for ClearList as it builds momentum to commence trading. In October of last year, ClearList Holdings announced a comprehensive capitalization table management offering that will provide a cost-effective software that will be integrated into the ClearList venue for real-time ownership updates for private companies.
ClearList is majority-owned by GTS, a Manhattan-based electronic market maker and a leading designated market maker at the NYSE.
ClearList Holdings LLC is the parent company of ClearList LLC and ClearList Securities LLC.
ClearList is an advanced trading solution for private companies and investors. ClearList establishes real-time, transparent price discovery based on actual investor sentiment – for a seamless and successful transition to the public market.
ClearList warns that investments in private, unregistered securities involves a high level of risk and may not be suitable for all investors. An investment in private company securities is highly speculative and involves a high degree of risk as well as the potential loss of your entire investment. Private company securities are also highly illiquid and there is no guarantee that a market will develop for such securities, including on the ClearList Alternative Trading System. There is also no guarantee that any private placement will be publicly listed through a direct listing or Initial Public Offering. You should be aware that each investment also carries its own specific risks and that you should complete your own independent due diligence regarding the investment including obtaining additional information, opinions, financial projections, and legal or other investment advice.