Following the successful introduction of electronic CDS Index trading in 2010, Credit Suisse now offers electronic trading of Single Name Corporate and Sovereign CDS on the Bloomberg Professional® service.
This important development gives clients the ability to execute fully electronic trades of Single Name CDS with Credit Suisse's Credit Derivatives Desk on any desktop computer via "Bloomberg Anywhere" by going to CSDS.
"The introduction of Single Name CDS electronic trading is another industry first for Credit Suisse, which continues to lead the way in today's evolving marketplace," said Eraj Shirvani, Head of Fixed Income for EMEA and Head of the European Credit Business. "Clients want the efficient and immediate access to credit derivatives markets that is offered by electronic trading, and Credit Suisse is committed to stepping forward as a key partner as the landscape takes shape."
While electronic pricing for CDS have been available for some time, traditionally clients needed to phone or message traders to execute a trade. Now, they can simply click to launch a trade request. Credit Suisse is initially offering select European industrial and sovereign names, and will follow soon with additional European corporate sectors. In November 2010, Credit Suisse launched electronic trading of major CDS indices in Europe and the U.S.
Electronic CDS trading is part of Credit Suisse PLUS, an innovative source of client focused electronic solutions that span research, analytics and trading.