Officials at Westminster Magistrates Court said the extradition order was approved Monday, and now goes to Home Secretary Theresa May for final approval.
Kareem Serageldin, a 39-year-old U.S. citizen who lives in London, is accused of distorting the value of mortgage securities in 2007. U.S. authorities say actions by Serageldin and two others contributed to a $2.7 billion writedown in Credit Suisse's results for 2007.
In February, a grand jury in New York indicted Serageldin on three charges of conspiracy, false record-keeping and wire fraud. Former colleagues David Higgs and Salmaan Siddiqui each pleaded guilty to a single conspiracy count and agreed to cooperate with investigators.