Chicago Clearing Corporation
Chicago Clearing Corporation provides securities and antitrust class action claim filing, recovery, and monetization services for institutional investors, including hedge funds, banks, trust companies, RIAs, pension funds, and broker-dealers.
- Company typePrivate
- Founded1993
- HeadquartersChicago, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Chicago Clearing Corporation does
Chicago Clearing Corporation (CCC), founded in 1993 and headquartered in Chicago, is a privately held B2B professional services firm specializing in securities and antitrust class action claim filing and recovery for institutional investors. The company manages the full claim lifecycle — monitoring global settlements, filing timely and late claims, corresponding with claims administrators, and reconciling distributions — for hedge funds, trust companies and banks, registered investment advisors, pension funds, broker-dealers, and proprietary trading firms. CCC also purchases claims outright through its monetization service, providing immediate liquidity to clients that would otherwise wait years for settlement distributions, and offers adjacent services including foreign litigation support, tax reclamation (via TaxTec), proxy services (via Proxytrust), and notification administration for broker-dealer nominees.
CCC's core technology is a proprietary claims management platform comprising a global class action monitoring website, a data normalization engine that reconciles trade data across multiple custodians and formats, secure data warehousing for client trade records, and a client reporting portal. Over three decades the platform has processed data across 42 million individual accounts and more than 1,000 unique settlements, supporting a cumulative $3B+ in client recoveries and a 3,200+ institutional client base representing $7T in AUM. Court-appointed market maker status in 19 coupon/certificate settlements further institutionalizes CCC's role in the litigation ecosystem.
Revenue is generated through professional services fees on claims filed and recovered, transaction-based spreads on claims purchased for monetization, and managed services for data warehousing and auditing. CCC goes to market via direct enterprise field sales, partner channels through wealth management technology providers (BetaNXT, FIS Global), and referrals from plaintiff attorneys and settlement administrators. The company is led by founder and CEO Jim Tharin (former CBOE market maker) and President/General Counsel Brian Blockovich, and has no disclosed outside investors.
Chicago Clearing Corporation firmographics
Firmographics- Name
- Chicago Clearing Corporation
- Legal name
- Chicago Clearing Corporation
- Website
- https://chicagoclearing.com
- Company type
- Private
- Founded year
- 1993
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Chicago Clearing Corporation provides securities and antitrust class action claim filing, recovery, and monetization services for institutional investors, including hedge funds, banks, trust companies, RIAs, pension funds, and broker-dealers.
- Ownership category
- akta.pro rank
Chicago Clearing Corporation industry classification
Industry- Product category
- Securities Class Action Recovery Services
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Services-Legal Services (8111)
- akta.pro primary industry
- Clearing & Settlement Operations (Post-Trade) (FSACALAC)
- akta.pro secondary industries
- Regulatory Reporting & Post-Trade Transparency (Clearing/Settlement) (FSACAHAM), Clearing & Settlement Operations Services (FSAFALAB)
Keywords
Where Chicago Clearing Corporation is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Chicago Clearing Corporation business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Claims Filing and Recovery Services: CCC manages the entire class action claim filing process for institutional clients—from monitoring new settlements to filing and reconciling claims. The company charges fees for this service, described as much less than what clients spend in-house to file claims themselves.
- Claims Monetization: CCC purchases class action claims from harmed investors upfront or as part of a fund wind down. This provides liquidity to investment managers who can then re-deploy capital. CCC values claims quickly (typically within 3 days) and can fund executed purchase agreements within 48 hours.
- Data Services: CCC provides data warehousing, data normalization, and data auditing services to institutional investors for their trade data management needs.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Claims Filing Services - Custom enterprise pricing based on account volume and complexity |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Chicago Clearing Corporation product offering
Product offeringCore offering
Chicago Clearing Corporation manages the entire securities and antitrust class action claim filing and recovery process for institutional investors. Services include monitoring global class action settlements, filing new and late claims, tracking claim status, corresponding with claims administrators, allocating settlement awards, and offering monetization (purchasing claims for upfront liquidity). The firm also provides supporting data services (warehousing, normalization, auditing), notification services for broker-dealers, foreign litigation services, and tax reclamation.
Product overview
Chicago Clearing Corporation (CCC) provides a comprehensive suite of class action claim filing and recovery services for institutional investors. The core offering consists of claim filing and recovery management, class action monitoring, and notification services. These are supported by data services including data warehousing, data normalization, and claims auditing. The company also offers monetization services for immediate liquidity, proxy services through a Proxytrust partnership, tax reclamation, foreign litigation assistance, and specialized coupon/certificate settlement expertise. The platform is designed to handle the entire lifecycle of securities and antitrust class action claims from monitoring through final distribution.
Differentiator
Problem solved
Functional benefit
Products and services
- Claim Filing and Recovery End-to-end management of the securities and antitrust class action claim process for institutional investors, including monitoring new settlements, filing new and late claims, tracking existing claims, corresponding with claims administrators, and allocating settlement awards.
- Class Action Monitoring Web-based monitoring service providing institutional clients access to all securities, antitrust, and foreign class action cases, including settlement notices, proof of claim forms, CUSIPs and identifiers, deadlines, class periods, attorney contact info, and court information.
- Notification Services
Quantifiable outcome
- Over $3 billion recovered for clients since 1993
- +4 more outcomes
Companies that use Chicago Clearing Corporation
Customer profileNamed customers4 records
Segments6 records
Ideal customer profiles5 records
Chicago Clearing Corporation technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Chicago Clearing Corporation partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- TaxTeccoreCCC and TaxTec announced a strategic partnership to transform class action and tax reclamation services. The partnership combines CCC's class action expertise with TaxTec's tax reclamation capabilities to provide comprehensive recovery services to institutional clients.
- Grant & EisenhoferminorCCC partnered with Grant & Eisenhofer law firm to present a webinar on international securities litigations. The collaboration positions CCC as an industry thought leader while leveraging the law firm's expertise in international securities litigation recovery.
- BetaNXTcoreBetaNXT, a wealth management technology provider, partnered with CCC to simplify the process of claims recovery from class action settlements for brokers and wealth managers. The collaboration aims to improve data accuracy and operational efficiency amid increasing complexity of settlements, enabling firms to better serve investors. This partnership expands CCC's reach into the wealth management technology ecosystem.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
Chicago Clearing Corporation competitors and assessment
Company assessmentDirect peers
- Epiq Systems: Epiq is the largest class action claims administrator in the US, providing end-to-end settlement administration, notice distribution, and claims processing. It is the most directly comparable competitor to CCC in the institutional claims-filing space and competes for the same broker-dealer, bank, and fund clients.
- Garden City Group (GCG): Garden City Group, now part of Epiq, is a leading legal noticing and class action administration firm. It serves many of the same institutional investor clients and handles settlement administration that overlaps with CCC's monitoring and filing services.
- Rust Consulting: Rust Consulting is a major class action settlement administrator handling notice, claims processing, and distribution. It is a direct competitor in the broader class action services ecosystem and serves institutional investors with similar offerings to CCC.
- A.B. Data, Ltd. A.B. Data is a class action administration company providing notice, claims processing, and settlement distribution services. It competes with CCC in providing post-settlement services to institutional investors, particularly in the notice and administration segments.
Broad incumbents
- Kroll: Kroll is a global financial services firm offering class action claims services as part of a broader portfolio that includes investigations, corporate finance, and valuation. While not specialized like CCC, Kroll's claims recovery service targets the same institutional investor base and represents a broad incumbent alternative.
- ISS (Institutional Shareholder Services): ISS provides governance, proxy voting, and corporate actions services to institutional investors — overlapping with CCC's proxy partnership and class action monitoring capabilities. While not a direct class action filer, ISS serves the same buy-side institutional client base with adjacent workflow solutions.
- Wolters Kluwer Compliance Solutions: Wolters Kluwer provides regulatory compliance and legal workflow tools to financial institutions. It serves overlapping institutional clients and could expand into the class action claims filing workflow, representing a broad incumbent threat to CCC.
- Ankura Consulting: Ankura is a global professional services firm offering forensic accounting, claims management, and financial advisory. Its claims management practice overlaps with CCC's institutional recovery services and serves a comparable client base of banks, funds, and corporations.
- Deloitte Forensic & Dispute Services: Deloitte's forensic practice includes class action claims identification and recovery services for large institutional clients. While not specialized, the Big Four advisory model represents a credible in-house alternative for the largest banks and pension funds that CCC also targets.
Emerging players
- Verita Global (formerly Heffler Claims Group): Verita Global is a class action administration and notice provider that has expanded into institutional claims services. As a smaller but growing competitor, it overlaps with CCC on certain institutional client segments and represents an emerging threat in the niche.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Chicago Clearing Corporation social profiles
Digital presenceChicago Clearing Corporation financial estimates
Financial estimateRevenue estimate
Valuation estimate
Chicago Clearing Corporation leadership team
Management profileNumber of profiles
Profiles4 records
Chicago Clearing Corporation funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Chicago Clearing Corporation M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Chicago Clearing Corporation
What does Chicago Clearing Corporation do?
Chicago Clearing Corporation manages the entire securities and antitrust class action claim filing and recovery process for institutional investors. Services include monitoring global class action settlements, filing new and late claims, tracking claim status, corresponding with claims administrators, allocating settlement awards, and offering monetization (purchasing claims for upfront liquidity). The firm also provides supporting data services (warehousing, normalization, auditing), notification services for broker-dealers, foreign litigation services, and tax reclamation.
Is Chicago Clearing Corporation a public or private company?
Chicago Clearing Corporation is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Chicago Clearing Corporation founded?
Chicago Clearing Corporation was founded in 1993. It employs 11 to 50 people.
Where is Chicago Clearing Corporation based?
Chicago Clearing Corporation is headquartered in Chicago, United States, in the North America region.
How does Chicago Clearing Corporation make money?
Three revenue lines are on record. Claims Filing and Recovery Services are the primary driver. The others are claims Monetization and data Services.
Who are Chicago Clearing Corporation's main competitors?
Direct peers on record are Epiq Systems, Garden City Group (GCG), Rust Consulting and A.B. Data, Ltd.. Broad incumbents are Kroll, ISS (Institutional Shareholder Services), Wolters Kluwer Compliance Solutions, Ankura Consulting and Deloitte Forensic & Dispute Services. Verita Global (formerly Heffler Claims Group) is listed as an emerging player.
Does Chicago Clearing Corporation have an API?
No public API is recorded for Chicago Clearing Corporation.
What industry is Chicago Clearing Corporation in?
Chicago Clearing Corporation's product category is Securities Class Action Recovery Services. Its primary akta.pro industry code is FSACALAC, Clearing & Settlement Operations (Post-Trade), with a secondary code of FSACAHAM, Regulatory Reporting & Post-Trade Transparency (Clearing/Settlement). Its NAICS code is 522320 and its SIC code is 8111.