Credit Suisse announced Friday that its CrossFinder ATS achieved record volume, with 112 million shares matched on 7 February, 2008. The bank reports average volumes of 85 million over the past two weeks, representing a tripling of volumes from six months ago.
"CrossFinder is now consistently one of the top three dark pools in the US,” says Dan Mathisson, managing director and head, Alternative Execution Services (AES), Credit Suisse. “With these volumes passing through it, CrossFinder has become a tool to help our clients achieve high fill rates without displaying bids or offers,” he explains.
CrossFinder technology has been overhauled over the previous six months to enhance its speed, capacity and reliability, according to Credit Suisse.
"We are continuously striving to make CrossFinder faster and better able to process more liquidity for AES clients,” comments Dmitri Galiametdinov, director, head of AES liquidity strategy.