UBS MTF is a non-displayed multilateral trading facility, featuring a Central Counterparty (CCP) model, in order to help you manage settlement costs and potential counterparty risks. Open to external members, we implement an objective membership access and order prioritization policy.
Executions completed in UBS MTF will be reported post trade in real time to the Markit BOAT.
UBS MTF operates separately as an external venue that pools European liquidity and matches orders on a non-discretionary basis. The MTF operates with its own management team in order to adhere to UBS's own rigorous confidentiality standards.
The UBS MTF is supervised by dedicated staff to ensure an orderly market. Real-time monitoring and historical surveillance are carried out to monitor all types of market abuse and prevent gaming activity.
As a 100 percent non-displayed liquidity pool, there is no pre-trade signaling risk or display of any kind.
The MTF offers mid-point, bid and offer matching based on the price of the primary market. UBS MTF matches orders according to price/time priority. All orders must be either IOC (Immediate Or Cancel) or Day Orders. Orders only match on UBS MTF when the primary market is in a trading phase for the relevant instrument.
UBS MTF gives clients access to a broader pool of liquidity, including flow from external members (who have access on a non-discriminatory basis), DMA orders, internal UBS desks, as well as institutional and retail liquidity. We will continue, as always, to separately operate UBS PIN (part of our global Price Improvement Network) offering internal crossing opportunities with other client algorithmic orders and internal UBS order flow.
Our CCP model delivers benefits to you by assisting in mitigating counterparty risk and contributing to reduced settlement costs. UBS MTF currently offers clearing via SIX x-clear and EuroCCP; additional CCPs are under active consideration.
UBS MTF Participants must be a member (GCM, ICM or NCM using a GCM) of one of the Central Clearing Counterparties (CCP) selected by UBS MTF. Our settlement cycle mirrors the settlement cycle of the primary market.
Products and services in this web site may not be available for residents of certain jurisdictions. Please consult the restrictions relating to the product or service in question for further information. Activities with respect to US securities are conducted through UBS Securities LLC, a US broker dealer. Member of SIPC.
For information as to which entity provides the services in each jurisdiction, click here.
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