Credit Suisse takes algo credit trading into high yield

The Swiss bank is pushing into new territory by taking automated trading into a more complex and less liquid market.

One year after launching a credit algorithmic trading platform for investment grade corporate bonds, Credit Suisse has extended its scope to high yield, bringing some 1,000 dollar-denominated bonds into the orbit of CSLiveEx. Over time it could bring the same technology to the European market.

Algorithmic trading came to the bond markets later than other asset classes, only really developing in the last four years or so. Corporate bonds in particular are an area where voice has stayed dominant, a reflection of their complexity compared to equities or currencies, or even government debt.

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