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Credit Suisse Unveils New Fixed Income Algorithmic Trading Platform Onyx

Credit Suisse has introduced a new algorithmic trading platform Onyx which offers clients electronic access to trade directly with Credit Suisse.

Credit Suisse said that the new platform was designed specifically for fixed income. The initial Onyx offering is a suite of algorithmic execution for pair strategies between fixed income futures and cash US Treasuries.

According to the Credit Suisse, clients will have electronic access straight from their desktops to trade cash US Treasuries directly with Credit Suisse. Earlier, clients were required to chose between using an algorithmic execution strategy or trading directly with an actual market marker, however, Onyx serves both purposes.

Ryan Sheftel, global head of electronic market making for rates at Credit Suisse, said: “Onyx 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.”

Onyx is currently available on PrimeTrade, Credit Suisse’s premier execution program. The company anticipates offering Onyx on a wider variety of platforms in the near future.