UBS ATS, an SEC-registered Alternative Trading System, that facilitates the matching of non-displayed orders in National Market System ("NMS") securities.
UBS ATS 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.
The UBS Price Improvement Network in the US ("UBS PIN (US)") is a differentiated segment of liquidity operated within the UBS ATS. UBS PIN (US) facilitates interaction between any combination of UBS Retail Orders, UBS institutional algorithmic order flow, and UBS Principal Orders.
As part of our continued commitment to transparency to help our clients understand exactly how their orders are handled within the UBS ATS, we have made the following documents available: