The global markets unit of Wells Fargo (WFC) is making a move into options clearing, amid growing client interest, according to a media report on Monday.
Wells Fargo (WFC) is joining the likes of Bank of America (BAC) and Goldman Sachs (GS) in putting capital behind clearing customers’ options trades, standing between customers and the clearinghouse as an intermediary. How big a market share it stands to gain remains to be seen, though.
The move, which is said to be in the early stages, comes after Wells Fargo (WFC) in June was released from a regulatory burden that prevented the lender from expanding its assets past $1.95T.
The bank started exploring options clearing earlier in 2025, before the asset cap was lifted, DJ Langis, co-head of equities at the firm’s global-markets unit, told Bloomberg in an interview. Wells Fargo (WFC) is trying to reshape its securities sales and trading business to better serve market makers, he added, a push that has already led to his team making new hires.
The biggest market-making firms, such as Citadel Securities and Jane Street, depend on clearing brokers to handle the mechanics of settling their trades. Market makers are set to start clearing at Wells Fargo (WFC) during the back half of 2026, Bloomberg reported.