Credit Suisse executes first P2P algo trades on Siege FX

Credit Suisse has announced that its Advanced Execution Services FX (AESĀ® FX) platform is now fully integrated and able to access Peer to Peer (P2P) liquidity on the Siege FX platform, following the successful completion of its pilot phase.

Credit Suisse executes first P2P algo trades on Siege FX
Evangelos Maniatopoulos

Evangelos Maniatopoulos, Global Head of AES FX Product & Trading at Credit Suisse, says that the team has built a bespoke trading component that seamlessly empowers clients to access Siege FX P2P liquidity through the AES FX execution strategies. He adds the implementation is flexible and allows for optionality in terms of order placement. “Clients can either route their orders exclusively to Siege FX, or allow the AES FX algos to work their orders and dynamically balance routing between Siege FX and the broader AES FX liquidity,” says Maniatopoulos. “We are particularly excited about our developments in this space, as they are a direct consequence of client demand and position the AES FX offering at the forefront of innovation in the liquidity landscape.” Siege FX offers fully anonymous P2P FX netting at a neutral, regulated mid-rate benchmark, which aims to reduce the execution costs for institutional buy-side and corporate clients.