Credit Suisse is now trading Structured Exotic Foreign Exchange Options on its new Internet platform, Merlin.
This online trading platform will allow the Bank’s clients to structure, price and execute complex, multi-legged exotic option transactions online.
Credit Suisse’s clients can now structure transactions manufactured from vanilla options and a wide variety of first and second generation exotic options. The platform generates a dealable price automatically before giving the client the ability to execute the trade online.
The platform has already auto-executed structures of exotic options containing over 150 legs. Structured Exotic FX Options are normally traded over the phone, so this online facility represents an exciting new development.
“There are few, if any, transactions of this complexity that have been traded electronically on the Internet. We are pleased to be able to provide the cutting-edge capabilities of Merlin to our clients, whose needs are becoming increasingly sophisticated. We are committed to providing clients with innovative tools to enable them to execute transactions as efficiently as possible.” says Simon Hards, global head of FX Exotics Trading, Credit Suisse.
“Merlin is a central part of our strategy to provide innovative and distinctive high-value electronic trading services for which Credit Suisse is well known,” adds Ian Green, head of eFX, Credit Suisse.