Published On: Mon, Jan 25th, 2010

Credit Suisse Launches AES® Velocity In Japan.

Credit Suisse announced January 25 that it is now able to offer its clients trading Tokyo-listed equities Direct Market Access speeds of under one millisecond via AES® Velocity. The ability to trade at ultra-high speeds in Japan is another advantage in the search for best execution that Credit Suisse has brought to its clients, reflecting the importance of Cash Equities and Electronic Trading to the Bank’s ambition to build the leading client-focused franchise in Asia Pacific.

Credit Suisse has located its trading servers on-site at the Tokyo Stock Exchange building, taking up the opportunity to co-locate that was extended to brokers as part of the TSE’s efforts to increase trading efficiency, which also involved the introduction of the next-generation Arrowhead trading system. Since Arrowhead’s smooth launch on January 4, trading speeds have increased sharply on the TSE while bid/offer spreads have tightened.

Clients that place their trading engines within Credit Suisse’s “racks” to make use of AES® Velocity and trade through the Bank’s direct access to the TSE are now able to achieve one-way latency as low as 200 microseconds. By comparison, the typical human reaction speed is around 150 milliseconds, or 750 times slower.

“This breakthrough confirms Credit Suisse’s position at the forefront of electronic trading in Japan,” said Christina Makiguchi, Head of AES® (Advanced Execution Services) for Japan at Credit Suisse. “Ultra-fast direct market access, along with much quicker execution speeds on the TSE since the introduction of Arrowhead, makes trading Japanese equities via Credit Suisse an even more attractive proposition to domestic and global investors.”

By accessing the market so fast, AES® Velocity can increase alpha for latency-sensitive strategies. It can also help algorithmic trading strategies to perform more efficiently by reacting faster to market conditions. The system also has built-in risk, compliance and trading limit checks.

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