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UBS Launches Electronic Trading of Index and Single Name Credit Default Swaps.

New York | | Media Releases EMEA

UBS Investment Bank has launched electronic trading of Credit Default Swap (CDS) on Bloomberg for the major ITRAXX and CDX global Indices including SOVX WE and CEEMA SOVX and also for Western sovereign single names, offering clients a streamlined and efficient way to trade with the Credit Derivatives Desk at UBS.

“UBS is making significant progress in the evolution of the CDS market by establishing an electronic offering for our clients to execute directly from their Bloomberg terminal," said Anatoly Nakum, Head of Flow IG Credit Trading for North America. "This is one of the many projects we have underway to provide liquidity to our clients in an increasingly electronic market for CDS. We are positioning ourselves to be a leading platform in this transition, particularly in anticipation of changes under Dodd-Frank.”

In addition to the North American, European and Sovereign indices, UBS is also publishing live prices across all the Western European single name sovereigns, in order to offer clients electronic trading on the most liquid single name contracts.

“UBS is striving to innovate and respond to our clients' needs," said Derrick Herndon, Head of the European Flow Credit Business. "When same-day clearing is fully operational next year our clients will be able to click, trade and clear across a broad spectrum of instruments.”

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