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Credit Suisse Acquires Minority Stake in BATS Electronic Communication Network.


NEW YORK New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 -- Credit Suisse announced today that is has acquired a minority stake in BATS Trading, operator of the BATS (Better Alternative Trading System Better Alternative Trading System (BATS) is the third-largest share trading electronic communication network in the U.S. cash equities system, trailing only NASDAQ and NYSE Arca. The company is led by President and CEO Joe Ratterman, who replaced founder Dave Cummings July 1, 2007. ) Electronic Communications Network (ECN (Electronic Communications Network) A computerized, private financial trading system. Terra Nova Trading (www.terranovatrading.com) and Instinet (www.instinet.com) are examples. ). Financial terms were not disclosed.

"We are extremely pleased to have established this partnership with BATS," said Jose Marques Marques may refer to:
  • marque, or brand name
  • Marqués, a surname
  • A Spanish form of Marquis.
  • ''Marques, a tall ship.
, Director in the Equity Department at Credit Suisse. "Our clients will benefit greatly from access to an increased number of execution options as well as the additional sources of liquidity that BATS provides in the electronic trading space," he continued.

"We are honored that Credit Suisse chose to partner with BATS and invest in our vision and technology", commented Dave Cummings, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of BATS Trading, Inc. "Credit Suisse is well known for their sophisticated algorithmic trading Algorithmic Trading

A trading system that utilizes very advanced mathematical models for making transaction decisions in the financial markets. The strict rules built into the model attempt to determine the optimal time for an order to be placed that will cause the least amount of
, which BATS was designed to handle. We look forward to furthering our relationship with Credit Suisse, our other partners and the broker dealer community."

About BATS Trading, Inc. BATS Trading, Inc. was incorporated in June 2005. The BATS trading platform was designed to handle high speed, high volume, anonymous, reliable, algorithmic trading that has become increasingly common in the equity markets today. BATS is dedicated to continually enhancing its product functionality and being a market innovator for years to come. For more information, visit www.batstrading.com.

About Credit Suisse As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services advisory services

advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal
, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 40,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN CSGN Cyber Sports Gaming Network (UK)
CSGN coordinating subgroup for narcotics (US DoD)
CSGN Strike Cruiser, Nuclear Powered (US Navy ship designation) 
) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

In its Investment Banking business, Credit Suisse offers securities products and financial advisory services to users and suppliers of capital around the world. Operating in 57 locations across 26 countries, Credit Suisse is active across the full spectrum of financial services products including debt and equity underwriting, sales and trading, mergers and acquisitions, investment research, and correspondent and prime brokerage services.
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Publication:Business Wire
Date:Oct 11, 2006
Words:387
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