Tower Research Capital: a high-speed shake-up for Credit Suisse’s rates business

Credit Suisse will get access to “world-class” technology in joint venture

Marc Vesecky - Tower Research Capital
Marc Vesecky, Tower Research Capital

A regulatory filing calls it Wake USA, a new US broker/dealer, but the first clue to its real identity is on page three of the document. The mailing address is 11 Madison Avenue, New York – the marble-clad, snub-nosed tower intended to be the world's tallest, but cut short by the Great Depression. It is now home to Credit Suisse.

The second clue is on page six of the Financial Industry Regulatory Authority (Finra) document, naming Ryan Sheftel as Wake's chief executive. He is better known as

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