|
|
|
|
|
|
||||
|
||||
|
||||
|
||||
|
|
|
|
|
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
|
|
|
|
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
|
|
|
|
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
|
|
|
|
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
Frequently asked questions
Trading & settlement
How do I sell shares in New York which I bought in Switzerland? Vice versa?
Some US-registered broker-dealers or affiliates are participants in the SWX Europe with their own membership and market-making capabilities. These brokers will accept orders to be executed on SWX Europe and/or the NYSE. Depending on the broker, you may be charged differently for transactions on SWX Europe compared to the NYSE. Brokers or custodians may also charge an additional fee for the transfer of shares from Switzerland to the US or vice versa.
Will the US shares be subjected to any different price movements from the Swiss shares? Does the exchange rate matter? What about liquidity?
Because of the greater volume of UBS shares traded on SWX Europe, for the foreseeable future Swiss trading will be the primary determinant of the share price and liquidity on the Swiss Exchange will be higher. During the hours in which both SWX Europe and NYSE are simultaneously open (currently 9:30am to 12pm EST), price differences are likely to be arbitraged away by professional market makers. The NYSE price will therefore depend on both the virt-x price and the prevailing USD/CHF exchange rate. When SWX Europe is closed, traded volumes will be lower, however the specialist firm making a market in UBS shares on the NYSE, Van der Moolen, will facilitate sufficient liquidity and an orderly market.
Do I have any other Swiss Franc (CHF) exposure?
The valuation of companies is dependent on multiple factors including the earnings outlook. Within the earnings stream of any multinational company, there will usually be earnings in one particular currency which have a dominant effect. As a global financial services firm, UBS earns revenues in many currencies. Because UBS prepares its accounts in CHF, changes in currency exchange rates, particularly between CHF/USD and CHF/GBP, may have an effect on reported earnings.
Will I be able to take physical possession of UBS share certificates?
If you are a registered shareholder, the US share registrar and transfer agent, Mellon Investor Services, will issue upon demand a UBS share certificate in physical format.
Terms of Use | Privacy Statement
Products and services in these webpages may not be available for residents of certain nations. Please consult the sales restrictions relating to the service in question for further information.
© UBS 1998-2009. All rights reserved.
| ||||||
| | | | | | |
| ||||||
| ||||||
| | | | |||
| Subscribe to be notified of important company releases & events by e-mail, SMS and/or RSS-feed: | | | | | |
| | | | |||
| | | | | ||
| | | | |||
