Bank of America Halts Trading With Credit Suisse Electronic Stocks Desk -Email

StreetInsider2023-03-21

Bank of America's electronic stocks desk has halted trading with a desk at Credit Suisse that uses computer-led strategies, "out of an abundance of caution effective today," an email seen by Reuters ...

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Comments

Longs
2023-03-21
Longs
👌🏼🙏🏼
Penthon
2023-03-21
Penthon
Ok
88wlam88
2023-03-21
88wlam88
A new Giant or a monopoly is born
Bodoh
2023-03-21
Bodoh
Many financial institutions trade thru CS
KPTan
2023-03-21
KPTan
Tq for sharing
Fiona888
2023-03-21
Fiona888
Noted
- Fiona888:
  k

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The U.S. Securities and Exchange Commission website calls the ATS Crossfinder a \"dark pool.\"Bank of America sent the email to traders and hedge fund clients on Monday morning.On Sunday, the 167-year old Swiss lender was subsumed into its larger rival UBS, which agreed to pay 3 billion Swiss francs ($3.23 billion) for Credit Suisse in a package engineered by Swiss regulators.Credit Suisse declined to comment on the email and Bank of America also declined to comment.The Credit Suisse rescue was backed by a massive Swiss government guarantee, helping prevent what would have been one of the largest banking collapses since the fall of Lehman Brothers in 2008.Switzerland has pledged 260 billion francs in liquidity lines and guarantees to UBS to help smooth the takeover as Credit Suisse clients and counterparties reassess their relationship with the stricken lender.The deal will also make UBS Switzerland's only global bank and the Swiss economy more dependent on a single 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CS","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9943860741","repostId":2321669823,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9943887199,"gmtCreate":1679355141811,"gmtModify":1679355145257,"author":{"id":"4089242101506430","authorId":"4089242101506430","name":"KPTan","avatar":"https://static.tigerbbs.com/6d16c608c834afdaf5cdb810b6196a28","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Tq for sharing&nbsp;","listText":"Tq for sharing&nbsp;","text":"Tq for 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