Credit Suisse has announced that CrossFinder+, the latest addition to the product suite of its algorithmic trading business, Advanced Execution Services (AES), won the award for ‘best front-office technology initiative’ at the 2007 American Financial Technology Awards (AFTA).
CrossFinder+ locates liquidity among a range of electronic communications networks (ECNs), exchanges and alternative trading systems (ATSs) with dark crossing capabilities.
“We are continuously improving CrossFinder+ by connecting to liquidity pools and taking advantage of new order types available from those pools," comments Dmitri Galiametdinov, a director within Credit Suisse AES.
CrossFinder+ uses historical and real-time trade information to determine how best to provide and remove liquidity among fragmented dark crossing venues. The tactic also aims to minimise market impact. All other AES tactics have integrated CrossFinder+ technology into their decision-making formulae.