28 September, 2006

UBS joins consortium to launch new equities alternative trading system

UBS has joined a consortium of five other firms to form an alternative trading system (ATS) which will provide clients with another liquidity source in the block trading market.

The ATS, which will be called Block Interest Discovery Service (BIDS), will create a block crossing network comprised of both buy and sell side firms. This platform will help increase transparency, drive down transaction costs and offer a wider choice to market participants.

Other consortium members are Citigroup, Goldman Sachs, Lehman Brothers, Merrill Lynch and Morgan Stanley.

Read the BIDS press release.

27 September, 2006

UBS launches Sharia compliant tradable solutions

To meet the need for a wider Sharia-compliant offering, the Investment Bank has launched an innovative, Sharia-compliant, commodity-linked Investment Certificate for Wealth Management clients.

The product, developed in partnership with Wealth Management, is a principal-protected, two-year certificate that offers investors a fixed minimum redemption of the invested principal, with a maximum redemption amount capped at 150%. The amount of redemption on the certificate will be determined by the performance of an equally weighted basket consisting of oil, copper and nickel.

The product was developed by IB's Global Islamic Finance Unit - a dedicated group of specialists who focus specifically on the structuring, marketing and execution of Sharia structured products.

The innovation reinforces UBS's commitment to Islamic Finance and Sharia products.

26 September, 2006

UBS Community Affairs scoops top prize at UK Charity Awards

UBS was named winner of the Corporate Community Involvement Award at the UK Charity Awards, recognizing our longstanding partnership with Deptford Green School in Lewisham, South East London.

In awarding UBS this accolade, the judging panel of leading figures in the UK charity sector praised UBS's pioneering, sustainable partnership with Deptford Green School which developed the first (and longest-running) adult-to-pupil mentoring program in the UK, Roots & Wings.

"We are extremely proud to have been given this national award which recognises private sector companies who have had a quantifiably positive impact on the community," says Nick Wright, Head of Community Affairs for EMEA.

25 September, 2006

UBS honored by 'Working Mother' magazine for fourth year in a row

For the fourth consecutive year, UBS has been named one of the 100 Best Companies for Working Mothers in the US.

Working Mother Magazine selected the winners based on a comprehensive range of work/life balance issues, including workforce profile, compensation, child care, flexibility, time off and leaves, family-friendly programs and company culture.

UBS was recognized for policies and programs in the US developed to meet the needs of working mothers and their families, including: competitive childcare leave, assisting with care for children of varying ages, providing flexibility to employees as well as tools and information to help managers manage employees on flex and offering a wide range of career development programs.

19 September, 2006

UBS increases number of ranked analysts in major US fixed income research survey

UBS has maintained its No.4 ranking in the Institutional Investor 2006 All-American Fixed Income Research survey. The firm gained an additional two positions on the leaderboard, now with a total of 23 ranked analysts.

On a weighted basis, UBS moves to No.3 ranking overall, up from No.4 last year, overtaking CSFB. This rating is calculated on a point score, awarded by level of ranking.

Charles Mounts, Global Co-Head of Fixed Income and FX Research, said: "Holding on to our number four ranking, at a time when there is a lot of evolution in the market, is a tremendous outcome. We moved up in terms of our weighting outcome and that reflects the quality of our votes.”

Laurie Goodman, Global Co-Head of Fixed Income and FX Research, added: "We are very pleased with the results and want to congratulate the analysts who worked so hard for their achievements.

15 September, 2006

UBS named No.1 Overall Currency Derivatives House of the Year

UBS has again delivered a strong performance in Risk magazine's ‘Inter-dealer Rankings 2006', being named No.1 Overall Currency Derivatives House of the Year.

In the overall currency section UBS achieved top two rankings in each of the four categories; cross currency swaps, vanilla currency options, exotic currency options and currency forwards. It also received first place rankings in several currency pairs: US dollar/yen, US dollar/euro and US dollar/Swiss franc. UBS also achieved a top three placing in euro/sterling, euro/yen and US dollar/sterling.

UBS's strongest performance was in exotic currency options, where it moved to first place from a ranking of fifth last year. In this category, UBS retained its first place ranking in US dollar/euro barrier and was also first in US dollar/yen barrier where the firm was previously unranked.

In the currency forwards category, the firm also achieved first place, improving on its second place position last year. In this category, the firm retained first place in US dollar/euro, US dollar/yen and US dollar/sterling while moving up one place to first for US dollar/Swiss franc.

"Our results in this survey continue to reinforce UBS's strong position in the FX market," says Fabian Shey, Global Head of FXCCT Distribution.

The survey was based on more than 1000 responses from the inter-dealer community (up from 875 last year). Participants were asked to vote for their top-three derivatives dealers in the derivatives categories that they had traded during the year.

14 September, 2006

UBS to set up branch in the Dubai International Financial Center

UBS has been granted a license by the Dubai Financial Services Authority to open an office in the Dubai International Financial Center (DIFC). This further demonstrates UBS's long term commitment, of over 40 years, to growing its presence within the Gulf region.

The move enables the firm to expand its current business and help achieve its goal of becoming one of the region's leading financial services providers in this growing market, with over 200 people dedicated to the Middle Eastern market, of which 65 are already based in the Gulf region.

The firm plans to open, in line with its integrated business model, a branch office in the DIFC by the end of the year which will focus on UBS's global core businesses: Global Wealth Management, Investment Banking and Global Asset Management. The branch will offer international and domestic clients comprehensive Wealth Management services, Investment Banking, Fixed Income, Equities, Foreign Exchange services and Investment Management.

UBS also plans to use the new DIFC branch to grow its already well-established Islamic Finance capability in the region and become a leading force in Sharia product development and structuring within the Gulf region.

Read press release.

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