Table of Contents As filed with the Securities and Exchange Commission on February 4, 2026 Registration No. 333-292822 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 2 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Clear Street Group Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 6211 86-2376416 (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Emplo ...

UNDER THE SECURITIES ACT OF 1933 Clear Street Group Inc. (Exact Name of Registrant as Specified in Its Charter) Table of Contents As filed with the Securities and Exchange Commission on January 20, 2026 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Industrial Classification Code Number) Delaware 6211 86-2376416 (I.R.S. Employer Identification Number) 150 Greenwich Street ...

Core Insights - ProRail has selected Nokia to modernize the Netherlands' railway GSM-R core network, marking a global first for the rail industry [1] - The modernization project will last four years and aims to enhance safety and service reliability for millions of passengers while preparing for Future Railway Mobile Communication System (FRMCS) networks [2][6] Project Details - The upgrade will extend the life of ProRail's existing 2G infrastructure and provide insights into cloud-native technology, improving railway services and operational efficiency through real-time data exchange [2][10] - Nokia will supply, install, and maintain its Nokia Cloud Platform, which includes various components such as the Nokia Assurance Center and Data Center Fabric, to enhance ProRail's railway communications [4] Strategic Importance - The transition to a cloud-native architecture is crucial for ensuring secure, reliable communication systems that are open to future innovations, supporting the ongoing digital transformation of the rail industry [5][6] - GSM-R is the current standard for railway communications, and the move to a cloud-native core will better position operators like ProRail for the next-generation FRMCS, which offers faster data and improved integration [7]

Core Insights - ProRail has selected Nokia to modernize the Netherlands' railway GSM-R core network, marking a global first for the rail industry with a cloud-native approach [1][6] - The four-year modernization project aims to extend the life of ProRail's existing 2G infrastructure while enhancing safety and service reliability for millions of passengers [2][10] - The transition to a cloud-native architecture is expected to improve operational efficiency through real-time data exchange and reduce long-term total ownership costs [2][5] Project Details - Nokia will supply, install, and maintain its Nokia Cloud Platform, which includes various components such as the Nokia Assurance Center and Packet Core [4] - The project will also upgrade the MantaRay NM and implement the Nokia Network Services Platform to enhance the agility and efficiency of ProRail's railway communications [4][10] - This modernization is crucial as rail infrastructure operators prepare for GSM-R lifecycle extensions and plan their migration to Future Railway Mobile Communication System (FRMCS) [6][7] Industry Impact - The upgrade demonstrates how European rail operators can build a foundation for future-ready communications as part of the ongoing digital transformation in the rail industry [6] - By moving to a cloud-native GSM-R core, operators like ProRail will be better positioned to explore synergies across applications and accelerate their journey toward FRMCS [7] - The transition to cloud-native solutions is seen as essential for ensuring secure, reliable, and innovative communication systems in the railway sector [5][6]

Core Insights - Optus is enhancing its partnership with Nokia to upgrade its Voice Platform and deliver resilient cloud-native voice services, targeting over 10 million customers in Australia [1][9] - The new platform will support the deployment of 5G enhanced voice services, which are critical for Optus' network strategy focused on reliability [3][5] Company Developments - The Nokia Cloud Native Communication Suite (CNCS) will be utilized by Optus to streamline network activities, enhance automation, and reduce manual interventions [9] - The CNCS will be deployed on Red Hat OpenShift, which is Optus' preferred Container as a Service (CaaS) provider [4][9] Technological Advancements - Nokia's CNCS is designed to be cloud-native, operationally efficient, and energy-efficient, addressing the needs of Australian consumers [2] - The platform aims to improve network resiliency, security, and subscriber experience through intelligent automation tools [3][5] Market Position - This collaboration marks a significant win for Nokia in the Oceania region, replacing a competitor's solution [9]