Business Services Industry
Credit Suisse Acquires Minority Stake in BATS Electronic Communication Network
Business Wire, Oct 11, 2006
NEW YORK -- Credit Suisse announced today that is has acquired a minority stake in BATS Trading, operator of the BATS (Better Alternative Trading System) Electronic Communications Network (ECN). Financial terms were not disclosed.
"We are extremely pleased to have established this partnership with BATS," said Jose Marques, Director in the Equity Department at Credit Suisse. "Our clients will benefit greatly from access to an increased number of execution options as well as the additional sources of liquidity that BATS provides in the electronic trading space," he continued.
"We are honored that Credit Suisse chose to partner with BATS and invest in our vision and technology", commented Dave Cummings, CEO of BATS Trading, Inc. "Credit Suisse is well known for their sophisticated algorithmic trading, which BATS was designed to handle. We look forward to furthering our relationship with Credit Suisse, our other partners and the broker dealer community."
About BATS Trading, Inc. BATS Trading, Inc. was incorporated in June 2005. The BATS trading platform was designed to handle high speed, high volume, anonymous, reliable, algorithmic trading that has become increasingly common in the equity markets today. BATS is dedicated to continually enhancing its product functionality and being a market innovator for years to come. For more information, visit www.batstrading.com.
About Credit Suisse As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 40,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
In its Investment Banking business, Credit Suisse offers securities products and financial advisory services to users and suppliers of capital around the world. Operating in 57 locations across 26 countries, Credit Suisse is active across the full spectrum of financial services products including debt and equity underwriting, sales and trading, mergers and acquisitions, investment research, and correspondent and prime brokerage services.
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