(Bloomberg) -- Credit Suisse Group AG, Switzerlands second-biggest bank, is considering selling additional stakes in an electronic interest-rates trading unit it set up last year, according to a person briefed on the plan.
The electronic platform, Wake USA, is a joint venture with high-frequency trading firm Tower Research Capital for U.S. Treasuries and other fixed-income products, according to a regulatory filing showing that the unit gained approval to operate earlier this year. Credit Suisse is in the process of moving clients to that unit and may sell part of its majority stake to reduce capital requirements, said the person, asking to remain anonymous because sale talks are preliminary.
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