Credit Suisse’s Advanced Execution Services (AES) unit has launched a block crossing service for clients trading Australian equities. The company claimed that this new feature to its internal crossing network, Crossfinder, will enable clients to place orders for large blocks of Australian stocks with complete anonymity and zero information leakage.
The company said that Crossfinder now allows clients to match orders worth a minimum of A$1 million on the Australian Securities Exchange (ASX) and enables potential price improvement for institutional investors trading in large quantities.
It added that Crossfinder provides automatic matching of orders within Credit Suisse’s client flow and therefore create opportunities for price improvement, lower market impact and reduced exposure to the market.
