Credit Suisse launches AES® Velocity in Japan, entering the world of the microsecond
Hong Kong, January 25, 2010 Credit Suisse announced today that it is now able to offer its clients trading Tokyo-listed equities Direct Market Access speeds of under one millisecond via AES® Velocity. The ability to trade at ultra-high speeds in Japan is another advantage in the search for best execution that Credit Suisse has brought to its clients, reflecting the importance of Cash Equities and Electronic Trading to the Bank’s ambition to build the leading client-focused franchise in Asia Pacific.
Credit Suisse has located its trading servers on-site at the Tokyo Stock Exchange building, taking up the opportunity to co-locate that was extended to brokers as part of the TSE’s efforts to increase trading efficiency, which also involved the introduction of the nextgeneration Arrowhead trading system. Since Arrowhead’s smooth launch on January 4, trading speeds have increased sharply on the TSE while bid/offer spreads have tightened.
Clients that place their trading engines within Credit Suisse’s “racks” to make use of AES® Velocity and trade through the Bank’s direct access to the TSE are now able to achieve oneway latency as low as 200 microseconds. By comparison, the typical human reaction speed is around 150 milliseconds, or 750 times slower.
“This breakthrough confirms Credit Suisse’s position at the forefront of electronic trading in Japan,” said Christina Makiguchi, Head of AES® (Advanced Execution Services) for Japan at Credit Suisse. “Ultra-fast direct market access, along with much quicker execution speeds on the TSE since the introduction of Arrowhead, makes trading Japanese equities via Credit Suisse an even more attractive proposition to domestic and global investors.”
By accessing the market so fast, AES® Velocity can increase alpha for latency-sensitive strategies. It can also help algorithmic trading strategies to perform more efficiently by reacting faster to market conditions. The system also has built-in risk, compliance and trading limit checks.
Credit Suisse is widely recognized as the dominant force in electronic trading in Japan and Asia Pacific.
- Isamu Kajino, Corporate Communications/Credit Suisse, Tel. +81 3 4550 9893
- Adam Harper, Corporate Communications/Credit Suisse, Tel. +852 2101 6139
- This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
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 47,400 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.
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.