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Credit Suisse Offers Internet Trading of Structured Exotic FX Options

by Philip Morton, Investors Offshore.com

06 December 2007


Credit Suisse has this week announced that it is now trading Structured Exotic Foreign Exchange Options on its new Internet platform, Merlin.

This online trading platform will allow the bank's clients to structure, price and execute complex, multi-legged exotic option transactions online, it announced.

Credit Suisse's clients can now structure transactions manufactured from vanilla options and a wide variety of first and second generation exotic options.

According to a statement released by the bank:

"The platform generates a dealable price automatically before giving the client the ability to execute the trade online. The platform has already auto-executed structures of exotic options containing over 150 legs. Structured Exotic FX Options are normally traded over the phone, and this online facility provides more speed, transparency and direct control of the transaction for clients."

"There are few, if any, transactions of this complexity that have been traded electronically on the Internet," observed Simon Hards, Global Head of FX Exotics Trading at Credit Suisse.

He added: "We are pleased to be able to provide the cutting-edge capabilities of Merlin to our clients, whose needs are becoming increasingly sophisticated. We are committed to providing clients with innovative tools to enable them to execute transactions as efficiently as possible."

"Merlin is a central part of our strategy to provide innovative and distinctive high-value electronic trading services for which Credit Suisse is well known," announced Ian Green, Head of eFX at Credit Suisse.

Earlier this year, the bank extended its award-winning Advanced Execution Services (AES) to FX traders. AES for FX is now offered alongside click-and-deal FX trading in the bank's PrimeTrade multi-asset client execution platform.


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