Advanced Execution Services (AES), the electronic trading division of global investment bank Credit Suisse, has added a block trading feature to its Crossfinder internal crossing network in Australia.
Crossfinder will facilitate the crossing of institutional size orders with the addition of an A$1 million minimum order size for stocks listed on the Australian Securities Exchange. According to Credit Suisse, this enhancement will help its clients minimise information leakage and help to achieve better execution.
“The introduction of a block crossing service within Crossfinder offers substantial benefits to Credit Suisse’s clients,” said Steve Davis, head of alternative execution products, Australia, Credit Suisse, in a statement. “Institutions will now have an increased ability to reduce signaling their intentions to the market and have greater flexibility to move in and out of large positions.”
Crossfinder provides automatic matching of orders within Credit Suisse’s client flow. Credit Suisse’s AES division now provides a full-service, multi-asset, global offering across equities, options, foreign exchange and futures on more than 60 exchanges and liquidity pools globally.