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Press Release
Credit Suisse CrossFinder® Executes Record Volume
New York, February 8, 2008 Credit Suisse announced today that its CrossFinder® ATS achieved record volume, with 112 million shares matched on February 7, 2008. The volume has been consistently high in 2008, with average volumes in the past two weeks of 85 million, representing a tripling of volumes from six months ago. This unprecedented volume accompanies record setting volume in AES, Credit Suisse's award-winning algorithmic trading platform.
"We are thrilled that CrossFinder® is now consistently one of the top three dark pools in the US," said Dan Mathisson, Managing Director and Head of AES. "At these volumes, CrossFinder® has become a fantastic tool to help our clients achieve high fill rates without displaying bids or offers."
CrossFinder® technology has been overhauled over the previous six months to enhance speed, capacity, and reliability. "This unprecedented growth in CrossFinder® demonstrates that clients are embracing our advances in technology," said Dmitri Galiametdinov, Director, Head of AES Liquidity Strategy. "We are continuously striving to make CrossFinder® faster and better able to process more liquidity for AES clients".
Enquiries:
- Tyrene Frederick, Corporate Communications/Credit Suisse, Tel. +1 212 538 5767
- About Credit Suisse
- As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 45,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) 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.
About AES
AES is Credit Suisse's suite of award-winning quantitative execution algorithms, which help institutions and hedge funds worldwide reduce market impact, improve performance versus benchmarks, and add consistency to their trading process. AES is connected to markets in more than 30 countries and is available to its clients through one simple connection.
