What specific services will be affected by the Credit Suisse wind-down?

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Credit Suisse to Scale Back New Markets Business from September 22

Credit Suisse will significantly reduce its new markets business operations from September 22, a move that will prevent clients from increasing positions or extending maturities on existing trades. While existing positions will continue to be serviced, and flows to Global Wealth Management and the Swiss bank remain unaffected, the bank's engagement in new trading activities will be curtailed. UBS, which is integrating Credit Suisse, will focus on consolidating new client activity through its own legal entities.
Reduction in New Market Business Activities

Starting September 22, Credit Suisse will no longer facilitate increases in trading positions or maturity extensions for its clients. This decision impacts the bank's ability to offer expanded services in the new markets business. The firm, which has a history spanning 166 years, is in the process of winding down its trading operations in global securities as part of its integration with UBS.
Continued Servicing of Existing Positions

Despite the reduction in new business, Credit Suisse has assured clients that all existing positions will continue to be serviced. This means that current trades and arrangements will remain operational and managed by the bank. Furthermore, the impact of these changes does not extend to flows directed towards Global Wealth Management or the dedicated Swiss bank.
UBS Consolidation of Client Activity

Looking ahead, UBS will concentrate on consolidating all new client activity within its own legal entities. This strategic realignment aims to streamline operations and integrate the client base effectively following the acquisition of Credit Suisse. The successful retention of existing Credit Suisse clients is identified as a crucial factor for UBS in executing a smooth integration of its former rival.

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What specific services will be affected by the Credit Suisse wind-down?

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