Credit Suisse to invest in Australia's AXE platform

SYDNEY, March 31 (Reuters) - Credit Suisse (CSGN.VX: Quote, Profile, Research, Stock Buzz) said on Monday it would become an investor in Australian share trading platform AXE ECN, set up to rival market leader ASX Ltd (ASX.AX: Quote, Profile, Research, Stock Buzz), joining six other shareholders.

Credit Suisse did not disclose the amount of its investment or the stake it would take in AXE, which was formed in September 2006 by a joint venture of New Zealand Stock Exchange Ltd (NZX.NZ: Quote, Profile, Research, Stock Buzz) and five other global and local banks.

Electronic Communications Networks (ECNs) are high-speed, low-cost platforms that only offer trading functions and are already available in most leading global markets.

AXE ECN is expected to commence operations in mid 2008. ($1=A$1.09) (Reporting by Denny Thomas;) ((denny.thomas@reuters.com; +61 2 9373 1812; Reuters Messaging: denny.thomas.reuters.com@reuters.net))