As part of our ongoing effort to offer quality liquidity, we currently operate our own internal crossing network, UBS Price Improvement Network, UBS PIN, in the US, Europe, Hong Kong, Japan and Australia. 1
By providing order confidentiality, with no indications of interest (IOIs) or signaling, UBS PIN presents a unique advantage in seeking best execution. With top-tier market share, global reach across all major markets, in addition to our significant retail flow, we provide liquidity that is not only deep but also diverse, giving you more opportunities to cross.
To help ensure that your orders interact with liquidity that fits your strategy within UBS, we provide two internal crossing opportunities in the US:
- UBS PIN (US), a differentiated segment of liquidity operated within UBS ATS, which facilitates interaction between UBS retail and UBS institutional algorithmic order flow.
- UBS ATS, our SEC-registered alternative trading system, which provides the opportunity to interact with a broad range of clients and market participants, including institutional, retail, DMA, UBS trading desks, as well as order flow from broker-dealers, market makers and active traders (sometimes referred to as “HFT”), subject to certain crossing restrictions.
Our top tier market share and considerable retail flow mean that our liquidity is not only deep but also diverse, giving you more opportunities to cross, even for less-liquid small cap orders.
Among the first broker dealers to launch an internal crossing network in Asia Pacific, UBS currently offers PIN in Japan, Australia, and Hong Kong. With top market share across the region*, our flow is not only deep but also diverse, giving you even more opportunities to cross.
UBS PIN performs two types of crossing, queue/price improvement and mid-tick crossing, enabling you to maximize trading opportunities by anonymously matching orders with our internal non-displayed flow. This capability can contribute to significant time and cost savings available through crossing. UBS PIN provides complete confidentiality, with no indications of interest (IOIs) or signaling of any kind.
For further information on UBS PIN and UBS Cross in APAC please refer to the APAC Crossing disclosure
* Source: Autex & Exchange Data 2008
As part of our commitment to quality liquidity, UBS currently offers our own internal crossing network, UBS PIN, across EMEA. Providing complete confidentiality, with no indications of interest (IOIs) or signaling of any kind – UBS PIN, combined with our ability to access the rest of the global markets, give you a distinct advantage in seeking best execution. With top-tier market share across Europe, we provide liquidity that is not only deep but also diverse, giving you even more opportunities to cross.