UBS provides client access to Chi-East
The global Equities business of UBS (NYSE: UBS; VTX: UBS) today announced that its clients will have access to Chi-East, the pan-Asian dark pool joint venture between Chi-X Global and the Singapore Exchange (SGX) and one of the first non-displayed external liquidity venues in Asia Pacific.
Effective immediately, UBS clients may execute trades directly on Chi-East. The move is the latest step in UBS's global liquidity strategy of connecting to high-quality external liquidity pools and providing its clients with an expanded source of liquidity as well as best execution. UBS was also one of the first brokers traded on Chi-X Japan when it launched at the end of July this year.
As an independent continuous crossing platform for select securities listed in Australia, Hong Kong, Japan and Singapore, Chi-East not only provides UBS clients with alternative and enhanced execution options, but also reduces the potential for information leakage and minimizes price impact risks, said Yang Xia, Head of APAC direct execution in UBS.
Acting as a liquidity aggregator, client orders will be posted on Chi-East, at the trader's discretion, for Singapore-listed stocks and will be trade-reported as married trades on the SGX, he added. Based on the trading objectives of our clients, no extra steps are required on their part to access the additional crossing opportunities.
Access to the Chi-East platform underscores our commitment to providing advanced access to liquidity across Asia Pacific by providing a suite of trading tools and strategies to respond to the unique characteristics, order flow and opportunities of each market, added Xia.
UBS was voted by clients as having the Best Electronic Trading and Online Equity Products in Asia by Asiamoney1 and the Leading Provider of Algorithmic Trading solutions by The Trade.2
1 Asiamoney 2009
2 The Trade 2010
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