Credit Suisse Launches Outright Electronic Trading of U.S. Cash Treasuries on Credit Suisse Onyx

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Nov 09, 2010, 11:30 ET

NEW YORK, Nov. 9, 2010 /PRNewswire/ -- Credit Suisse, the first major primary dealer to offer clients direct access to algorithmic trading in U.S. Government bonds and Treasury futures, now offers outright trading of cash U.S. Treasuries on the Credit Suisse Onyx platform.

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The addition of cash U.S. Treasuries builds on Credit Suisse Onyx's existing suite of cross-market algorithmic interest rate strategies, rounding out the platform's execution toolkit and giving clients speed, liquidity and technology that were once available only to the largest dealers. Clients can now choose the price where they want to execute outright U.S. Treasury trades and employ Credit Suisse's ultra-low-latency technology to get orders filled through direct access to Clearwater, the bank's immense aggregated pool of liquidity.

"This is a significant move in our ongoing commitment to deliver strategic value to our clients," says Tim Blake, Head of U.S. Interest Rate Products. "We are putting our most advanced technology directly into clients' hands, giving them an alterative to traditional request-for-quote systems by offering the ability to set their own price and access premium transparency and liquidity."

Outright U.S. Treasury trading further solidifies the position of Credit Suisse Onyx as the market's leading fixed income trading platform for rates. Since 2006, over $10 trillion notional of government bond and exchange-traded futures contracts have been executed internally and externally on Credit Suisse Onyx.

"We are committed to delivering innovative technology to our clients that provides them a crucial edge in executing their trades" says Jon Kinol, Global Head of Interest Rate Products. "Onyx is part of that commitment, and we are constantly evolving to offer clients the most efficient means to transact with direct access to the best liquidity in the marketplace."

Credit Suisse PLUS: Ideas that lead. Onyx is a key element of Credit Suisse PLUS, the bank's full spectrum of client-focused electronic services that spans leading research perspectives, our powerful Intelligence and Critical Data suite, innovative execution capabilities including market-leading algorithms, and post-trade tools for integration and self-service. For more information, visit www.creditsuisse.com.

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 49,200 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