Credit Suisse Launches Electronic Trading of Single Name Credit Default Swaps on Bloomberg

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Feb 07, 2011, 09:42 ET

NEW YORK, Feb. 7, 2011 /PRNewswire/ -- Following the successful introduction of electronic CDS Index trading in 2010, Credit Suisse now offers electronic trading of Single Name Corporate and Sovereign CDS on the Bloomberg Professional® service. This important development gives clients the ability to execute fully electronic trades of Single Name CDS with Credit Suisse's Credit Derivatives Desk on any desktop computer via "Bloomberg Anywhere" by going to CSDS<GO>.

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"The introduction of Single Name CDS electronic trading is another industry first for Credit Suisse, which continues to lead the way in today's evolving marketplace," said Eraj Shirvani, Head of Fixed Income for EMEA and Head of the European Credit Business. "Clients want the efficient and immediate access to credit derivatives markets that is offered by electronic trading, and Credit Suisse is committed to stepping forward as a key partner as the landscape takes shape."

While electronic pricing for CDS have been available for some time, traditionally clients needed to phone or message traders to execute a trade. Now, they can simply click to launch a trade request. Credit Suisse is initially offering select European industrial and sovereign names, and will follow soon with additional European corporate sectors. In November 2010, Credit Suisse launched electronic trading of major CDS indices in Europe and the U.S.

Electronic CDS trading is part of Credit Suisse PLUS, an innovative source of client focused electronic solutions that span research, analytics and trading.

Credit Suisse AG

Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 50,500 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

Investment Banking

In its Investment Banking business, Credit Suisse offers securities products and financial advisory services to users and suppliers of capital around the world. Operating in 57 locations across 30 countries, Credit Suisse is active across the full spectrum of financial services products including debt and equity underwriting, sales and trading, mergers and acquisitions, investment research, and correspondent and prime brokerage services.

SOURCE Credit Suisse AG