Buy-Side Technology Awards: Best Best Buy-Side Algorithmic/DMA Product—Credit Suisse AES

Credit Suisse’s Advanced Execution Services (AES) has become the kingpin of this award category. For the fourth straight year, AES has been named the best algorithm provider by Buy-Side Technology’s judging panel.

Despite its already-robust client base of more than 2,000 clients, Credit Suisse has added about 500 new users over the last 18 months. A big reason for this expansion is the addition of new offerings and upgrades. Credit Suisse has added the Alpha Scorecard in order to provide transparency for clients using its dark pool. Users are also now able to see what type of counterparties they trade with in Crossfinder, the firm’s dark pool, as well as other external dark venues, says Robert Maher, managing director and head of AES European sales.

“Given the heightened concerns traders have when executing in the dark, the offering has been exceptionally well-received by our clients,” he says.

Also new to the AES suite is a real-time performance indicator, Instant Color, and AES ETF, which taps into Credit Suisse’s smart order-router (SOR) to deliver exchange-traded fund (ETF) executions at optimal prices. The firm has also expanded its list of partners for Crossfinder+ and Pathfinder, and it has reached into new markets with its Velocity low-latency solution.

Credit Suisse is currently in the process of redesigning its order-entry ticket so that users can better access AES algorithms. The team is also building out its multi-asset class platform and global pairs-trading capabilities, says Maher.

The AES group has also found it important to help shepherd clients through an increasingly complex regulatory environment, where algorithmic trading and dark pools have become targets.

“Regulation and liquidity are the key concerns on our clients’ minds these days. With regards to regulation, everything seems to be revolving around safety and control within the marketplace,” Maher says. “The AES group has always been intently focused on protecting client orders from adverse market conditions and a difficult trading environment. This will be a continued area of focus in the next 12 months. As ever, liquidity will continue to be an area of focus for our clients. Clients are trading in the dark more than ever in order to source liquidity with minimum impact. We continue to see significant growth in our Crossfinder dark pool, matching over $1 billion a day in Europe alone, making it the go-to venue for clients.” —AM