Credit Suisse is in the early stages of selling a majority stake in its Wake USA electronic trading platform. People close to the bank confirm that preliminary conversations have begun, including talks with at least three interested parties to sell a large enough portion of the stake to make Credit Suisse a minority holder. Credit Suisse launched Wake in March this year as a way to put some distance between the bank and capital-intensive trading businesses such as rates. The bank owns about 57% of the venture.
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