UBS Investment Bank SEC disclosures

Rule 606 (formerly Rule 11Ac1-6) of the US Securities and Exchange Commission requires broker-dealers to disclose where their customer orders are routed when the firm acts as agent. The following report for UBS Securities LLC (“UBS-S”) is being furnished in compliance with this rule:

UBS-S Rule 606 Report (PDF, 161 KB)

You will need Adobe Acrobat Reader to download the file.

Rule 605 (formerly Rule 11Ac1-5) of the US Securities and Exchange Commission requires market centers to disclose certain execution quality statistics. The following reports are being furnished in compliance with this rule for securities in which the firm(s) may be considered a market center:

UBS-S Rule 605 Report (external site)

Changes in technology and internal routing practices, as well as our regular and rigorous reviews, periodically result in modifications or enhancements to the methodology utilized by UBS Securities LLC in calculating the information disseminated under Rules 605 and 606. Accordingly, the Firm has made such adjustments to incorporate additional information into its publicly disclosed Execution Quality statistics, effective with the July 2010 reports.

In the event the Firm resubmits its monthly Rule 605 and/or quarterly Rule 606 data, the publicly available statistics will state the date of resubmission. Moreover, the original reports are available on request.

Disclaimer of liability

 

UBS Securities LLC ("UBS-S") prepared the respective data and information (the "Reports") contained herein pursuant to Rules 605 and 606 (the "Rules") under the Securities Exchange Act of 1934. The Rules are intended to provide investors with certain information regarding each broker-dealer's order handling practices.

 

The Reports are not intended to and do not consider all factors relevant to an analysis of a broker-dealer's best execution and order routing practices. As acknowledged by the Securities and Exchange Commission (the "SEC"), other factors may be relevant to evaluating the quality of order execution, including the (1) size of the order, (2) trading characteristics of the security involved, (3) availability of accurate information affecting choices about the most favorable market center for execution and the availability of technological aids to process such information, and (4) cost and difficulty associated with achieving an execution in a particular market center. Accordingly, the SEC has stated that "the statistical information required by this Section alone does not create a reliable basis to address whether any particular broker-dealer failed to obtain the most favorable terms reasonably available under the circumstances for customer orders."

 

UBS-S has used best efforts to produce the Reports accurately and timely. However, preparation of the Reports requires compilation of a substantial amount of data, which is given to and filtered by our vendor, MSI. Accordingly, the reports may contain errors or other inaccuracies, none of which is intentional. The reports are issued for purposes of compliance with U.S. Regulations only and are not intended for purposes of solicitation of orders or business by UBS-S. As such, use of such reports is strictly voluntary and does not create in UBS any duty to any person reviewing the reports. UBS-S shall not be liable for any person's use of the Reports or for any damages arising from the use of the Reports, including incidental and consequential damages.

 

UBS-S, member FINRA, NYSE, and SIPC, is an indirect wholly-owned subsidiary of UBS AG. In the U.S., UBS Investment Bank’s order routing and execution services are performed by UBS-S.