Credit Suisse launches fixed income trading platform

Credit Suisse finally unveils Onyx

Credit Suisse has launched the industry’s very first fixed income algorithmic trading platform, Onyx, which offers clients direct electronic trading capabilities with Credit Suisse’s US Treasuries desk.

The Swiss financial services company claims that the new trading platform is “groundbreaking” and says that Onyx will innovate and globalize the entire trading system.

Ryan Sheftel, Credit Suisse’s Global Head of Electronic Market Making for Rates, asserted that “Onyx is the gateway into the electronic future of fixed income trading.”

Mr. Sheftel explained that clients will no longer have to choose between using an algorithmic execution strategy or trading directly with an actual market marker, because Onyx serves both of these purposes.

Credit Suisse did in fact design and implement these algorithms several years ago, but this is the first time that the company has enabled clients to use these trading platforms. 

The potential of Onyx


“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 Mr. Sheftel.

According to Credit Suisse, Onyx provides advanced execution and direct access to liquidity that can only be offered by a huge financial service like Credit Suisse. This will be done through the firm’s extensive voice and electronic market-making capabilities and vast customer franchise, which are all combined by Credit Suisse.

Foe the first time, clients will have electronic access on their desktops to trade cash US Treasuries directly with Credit Suisse.

“The addition of Onyx 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.”

Onyx is currently only available on PrimeTrade, Credit Suisse’s execution program. However, the Swiss company expects to be offering Onyx on a wider variety of platforms in the near future.

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