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TradingScreen Adds Credit Suisse FX Algorithms

Execution management system (EMS) provider TradingScreen has integrated foreign exchange algorithms from Credit Suisse Advanced Execution Services (AES) into its TradeFX platform.

The agreement, which was announced at the TradeTech conference in Paris last week, means that "clients now have the ability to direct trades to Credit Suisse across FX, equities, options and futures, all while using the same front end across its entire range of value-added services," said Michael Chin, president of New York-based TradingScreen, in a prepared statement.

Credit Suisse in April 2007 made its forex algorithms--an area that has seen growing demand--available to external clients. "These FX-specific trading strategies yield excellent results, particularly when coupled with Credit Suisse's smart-order routing capabilities," said Paul Buckley, head of Credit Suisse AES FX sales in North America. "In creating AES FX, we leveraged our established expertise within equities and used the most innovative ideas and technology from foreign exchange to create a fully integrated, multi-asset product for our clients."

TradeFX, which launched in late 2005 and is a module of TradingScreen's TradeSmart EMS, aggregates liquidity from multiple sources and brokers onto a single interface. Integration of the Credit Suisse FX strategies was completed earlier this year and the algorithms are currently being used by a range of clients, says TradingScreen, including investment banks and asset managers.

The companies cite Guerilla and Sniper as the Credit Suisse algorithms most frequently used by forex traders, allowing for improved execution performance, reduced costs and minimal market impact. TradeFX users can now use the strategies in both spot and forward orders.

Frits Fiene, partner at Netherlands-based World View Investment Management, noted that for active currency managers, "having access to Credit Suisse AES FX algorithms available on TradeSmart provides us a great tool to participate in the market and capture the biggest intraday swings."

In January 2007, TradingScreen added Credit Suisse algorithms for listed futures to its suite of trading products. "A natural evolution to our vast offering in algorithmic trading for equities is to extend this service across the other asset classes," said Chin at the time. TradingScreen in November launched a futures algorithmic hub, including the AES strategies, that enables buy-side clients to trade across multiple futures commission merchants, markets and financial products. Andrew Yao, head of futures sales for AES, called the integration of its algorithms into the FutureHub platform important to its strategy of spreading its trading strategies across asset classes.

TradingScreen also said last week that it will provide a fully integrated trading and prime brokerage solution to Merrill Lynch & Co.'s global hedge fund clients. The new system will be available on TradeSmart, which is currently used by more than 120 Merrill Lynch clients.

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