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UBS launches internal crossing platform - the UBS Price Improvement Network (UBS PIN)
The global Equities business of UBS (NYSE: UBS; VTX: UBS) today announced the launch of an internal crossing platform in Hong Kong - the UBS Price Improvement Network (UBS PIN).
UBS PIN enhances market liquidity by enabling clients to maximise trading opportunities by anonymously matching orders within UBS's internal liquidity pool while routing their orders to the market. The platform provides UBS clients with access to best execution as well as significant savings in time and cost. UBS PIN, which includes queue and price improvement features, is automatically available each time UBS clients enter an equities order for Hong Kong securities through the Firm - no new technological connections or relationship agreements are required.
"As the leading provider of liquidity in Hong Kong, our deep and diverse trading flows from institutional and retail investors provide our clients with unique and tangible benefits, UBS PIN allows all of our clients seamless crossing opportunities with UBS - which leads to spread savings and reduced signalling risk," said Laurent COMBALOT, Head of Equity Client Trading & Execution Asian Equities.
UBS PIN promises complete confidentiality, with no indications of interest or signalling of any kind, which gives clients confidence that orders routed via the platform will not adversely affect the price in the market.
UBS PIN has provided high-quality crossing opportunities in the US, Europe, Japan and Australia for several years.
UBS has been the leading provider of liquidity in the Hong Kong Securities Exchange for the past two years, with a market share of 6.76% (Q1 2009).
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