Credit Suisse Acquires Minority Stake in BATS Electronic
New York, October 11, 2006 Credit Suisse announced today that is has acquired a
minority stake in BATS Trading, operator of the BATS (Better Alternative Trading
System) Electronic Communications Network (ECN). Financial terms were not
"We are extremely pleased to have established this partnership with BATS," said Jose
Marques, 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 of BATS Trading, Inc. "Credit
Suisse is well known for their sophisticated algorithmic trading, 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, 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