Credit Suisse First Boston (CSFB) announced today that it had launched the Euro Commercial Paper (ECP) market’s first inter-active multi-currency trading system via Bloomberg (ECPTradeSM or Bloomberg code “FBEP”).
The system enables investors to place orders electronically and receive confirmations within seconds. Primary offerings are shown in seven major currencies – Euros, U.S. Dollars, Sterling, Swiss Francs, Yen, Australian Dollars and Canadian Dollars – backed by live foreign-exchange pricing updated up to 20,000 times per day. Secondary offerings are also displayed, and are available for electronic trading on Bloomberg page “FBES”.
CSFB’s first automated trade was executed on Friday, November 22, a US$20m 3-month trade for AB Spintab. ECPTradeSM follows CSFB’s hugely successful USCP trading system CPTradeSM, the first such system via Bloomberg in the USCP market, launched in 1995 which now handles thousands of trades per month.