Credit Suisse buys into AXE
Credit Suisse has announced it will invest in AXE ECN (electronic communications network) in an effort to provide its customers with a high speed, low cost trading platform.
The move will make Credit Suisse the sixth shareholder of AXE stock.
AXE chief executive officer Greg Yanco said: “Direct involvement by Credit Suisse, alongside the serious weight of our other shareholders, brings the AXE vision of faster, cheaper and smarter trading for Australia that much closer to reality.”
Credit Suisse country manager David Trude said the investment in AXE would complement the company’s existing electronic trading capabilities.
“The ultimate winners will be investors, who will have the benefit of shared expertise on business development and healthy competition in the Australian market,” he said.
Recommended for you
With Insignia Financial suffering a cyber attack on its Expand platform, this can potentially have a negative impact on the two private equity bids currently in play for the firm.
State Street Global Advisors has made an equity investment in Ethic, a platform helping financial advisers to produce bespoke portfolios, reflecting the greater client demand for customised portfolios.
WT Financial’s new entity with Merchant, Investco, has entered into a heads of agreement to merge three financial advice firms.
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
