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Credit Suisse today announced the launch of OnyxTM, a groundbreaking algorithmic trading platform designed specifically for fixed income. This new platform gives clients electronic access to trade directly with Credit Suisse. The initial OnyxTM offering is a suite of algorithmic execution for pair strategies between fixed income futures and cash US Treasuries. These are the very same algorithms that were designed by and have been used by the Credit Suisse trading desk for several years.
For the first time, clients have electronic access straight from their desktops to trade cash US Treasuries directly with Credit Suisse, a leading market maker in fixed income. While previously clients had to chose between using an algorithmic execution strategy or trading directly with an actual market marker, OnyxTM serves both purposes. OnyxTM provides advanced execution and direct access to the liquidity only a dealer like Credit Suisse can provide through our extensive voice and electronic market making capabilities and vast customer franchise. All of these are pooled together to facilitate the efficient execution of our clients trades.
"The addition of OnyxTM to Credit Suisse's growing suite of algorithmic trading platforms underscores our commitment to fixed income electronic trading," said Tim Blake, Head of US Rates. "We are excited to be able to offer our clients an industry leading product, giving them access to liquidity in the fixed income markets when and where it is available."
"OnyxTM is the gateway into the electronic future of fixed income trading. It brings all the liquidity we have to bear and delivers it in an electronic fashion to clients, helping them achieve their execution goals with greater speed and efficiency." said Ryan Sheftel, Global Head of Electronic Market Making for Rates.
OnyxTM is currently available on PrimeTrade, Credit Suisse’s premier execution program. Credit Suisse anticipates offering Onyx on a wider variety of platforms in the near future.
