UBS to Close Credit Suisse Dark Pool Crossfinder in Next Cut (1)

UBS Group AG is winding down the electronic-trading platform it inherited from Credit Suisse as the Swiss bank looks to shed more assets from the defunct rival it took over this year.

The bank plans to shut off Crossfinder, the alternative-trading system, and AES, the affiliated algorithmic-trading business, will stop routing orders to the system, people with knowledge of the matter said, asking not to be identified discussing a private matter. Those businesses were once at the forefront of electronic trading and innovation on Wall Street.

Crossfinder’s last day of ATS operations will be Aug. 31, and AES will no ...