Credit Suisse Asset Management’s NEXT Investors has sold FastMatch, an electronic communication network in the spot foreign exchange market. The buyer was Euronext. No financial terms were disclosed.
New York, August 15, 2017 – Credit Suisse Asset Management’s NEXT Investors announced today it has completed the previously announced sale of FastMatch, the fastest growing Electronic Communication Network (“ECN”) in the spot foreign exchange market, to Euronext after receiving regulatory and anti-trust approvals.
“We are proud to have been a founding investor in FastMatch and helped build it from the ground-up. The company has become one of the most innovative institutional platforms for forex traders and a leading technology platform,” said Alan Freudenstein, Managing Director at Credit Suisse Asset Management.
The FastMatch ECN is based on market-tested technology developed by Credit Suisse, giving the company an incredible speed advantage and the ability to handle thousands of clients simultaneously. Clients include retail brokers, institutions, banks, hedge funds, and proprietary trading firms.
NEXT Investors is a Credit Suisse asset management business headed by Alan Freudenstein and Greg Grimaldi, who have invested together on a principal basis for 17 years. NEXT Investors identifies minority growth equity investment opportunities in private technology and services companies globally where the team has domain expertise and an actionable edge. NEXT Investors focuses on high-growth private businesses that interact with the financial services industry in business sectors including market structure, data providers and big data analytics, enterprise software, and tech-enabled finance.
About Credit Suisse AG
Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 46,230 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.