Credit Suisse has launched Onyx, an algorithmic trading platform designed specifically for fixed income.

The platform gives clients electronic access to trade directly with Credit Suisse.

The initial Onyx offering is a suite of algorithmic execution for pair strategies between fixed income futures and cash US Treasuries. These are the same algorithms that were designed by and have been used by the Credit Suisse trading desk for several years.
 
For the first time, clients have electronic access straight from their desktops to trade cash US Treasuries directly with Credit Suisse, a market maker in fixed income. While previously clients had to chose between using an algorithmic execution strategy or trading directly with an actual market marker, Onyx serves both purposes.
 
“The addition of Onyx to Credit Suisse's growing suite of algorithmic trading platforms underscores our commitment to fixed income electronic trading,” says Tim Blake, head of US rates. “We are excited to be able to offer our clients an industry leading product, giving them access to liquidity in the fixed income markets when and where it is available.”
 
Onyx is currently available on PrimeTrade, Credit Suisse’s execution programme. Credit Suisse anticipates offering Onyx on a wider variety of platforms in the near future.