Investment bank Credit Suisse has linked to US dark pool RiverCross ATS, and has announced that AES CrossFinder, the bank’s dark pool, will become the first alternative trading system available on SFTI, NYSE Euronext’s low-latency communications network.
Under the arrangement with RiverCross, Credit Suisse has added the dark pool as a trading destination for all of its algorithmic and direct access systems.
Credit Suisse established the RiverCross link as part of its drive to help clients locate liquidity in the fragmented US market. “The fragmentation of the equity markets has produced exponential growth in dark liquidity pools, and this new fragmented market created difficulties for the buy-side and sell-side to efficiently locate liquidity,” said Dan Mathisson, managing director and head of Advanced Execution Services (AES), Credit Suisse, in a statement. “Our goal is to solve market participants’ frustration with fragmentation by creating partnerships that enhance access to liquidity while continuing to provide anonymity.”
As well as connecting CrossFinder to SFTI, the NYSE Euronext agreement provides trading access for multi-asset trading to Credit Suisse via an open FIX architecture. This service includes routes to cash, programmes, DMA, derivatives, FX and the bank’s AES algorithmic offering.
“The SFTI network provides a low-latency, highly resilient infrastructure that is critical for our clients,” said Guy Cirillo, Global Channel Sales Manager, AES, Credit Suisse. “SFTI provides AES with a competitive advantage in the electronic trading and algorithmic marketplace.”