Credit Suisse and Glencore International in new metals alliance

Credit Suisse and Glencore International have today announced the formation of a derivatives and structured products trading business in base and precious metals.

The initiative, which extends the companies’ existing collaboration in oil and petroleum product markets, will provide risk management and investment products to Credit Suisse and Glencore customers.“With this initiative we can now offer a full service commodity platform to our investment banking clients, spanning oil and oil products, power, natural gas, and now base and precious metals,” said Jim Healy, head of fixed income within the investment banking division of Credit Suisse.

Credit Suisse will include its Zurich-based commodity trading operation in the alliance and will expand its business across cash as well as exchange-traded and OTC derivatives products. The business will be based in Switzerland.

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