UBS MTF is a non-displayed multilateral trading facility operated by UBS, offering significant and diverse liquidity to members1. It offers liquidity across market caps covering 3,400+ individual instruments in seventeen European markets, trading Equities and Depositary Receipts.
Top ranking MTF during 2014, 2015 and 20162, UBS MTF incorporates the principles the firm advocates world-wide, including efficiency, fair access and client choice.
Why UBS MTF?
- UBS MTF features a Central Counterparty (CCP) model, to help you manage settlement costs and potential counterparty risks.
- We implement an objective membership access and order prioritization policy.
- Executions completed in UBS MTF will be reported post trade in real time to the Bats Trade Reporting Service.
- UBS MTF is segregated and operates as an external venue that pools European liquidity and matches orders on a non-discretionary basis.
- To ensure UBS MTF adheres to our rigorous confidentiality standard, it operates with its own management team.
- As a 100 percent non-displayed liquidity pool, there is no pre-trade signaling risk or display of any kind.
- UBS MTF offers mid-point, bid and offer matching based on the price of the primary market. UBS MTF matches orders according to price/time priority.
- All orders must be either IOC (Immediate Or Cancel) or Day Orders. Orders only match on UBS MTF when the primary market is in a continuous trading phase for the relevant instrument.
- UBS MTF applies well-formed market checks to all orders to ensure that the executed price from the most relevant market for an instrument is the best price at the time of the trade.
- Our CCP model delivers benefits to you by assisting in mitigating counterparty risk and contributing to reduced settlement costs.
- UBS MTF currently offers clearing via SIX x-clear, EuroCCP and LCH.Clearnet. UBS MTF participants must be a member (GCM, ICM or NCM using a GCM) of one of the Central Clearing Counterparties (CCP) selected by UBS MTF. Our settlement cycle mirrors the settlement cycle of the primary market.