Reports: Credit Suisse May Spin-Off U.S Fixed-income Business - Quick Facts

(RTTNews) - Swiss banking giant Credit Suisse is planning to team up with private investors to sell additional stake in its U.S fixed income venture, said reports.

Wake USA LLC, the electronic fixed-income trading platform was jointly created by Credit Suisse and Tower Research Capital LLC for trading U.S. Treasurys, bond futures and other products electronically.

According to sources, the spin-off allows Credit Suisse to de-consolidate Wake USA, thereby freeing it from the new rules that apply to banks.

The Zurich-based bank is said to have generated $1.67 billion in fixed-income trading in the first quarter, a 25 percent decline from last year.