Indirect ETD Clearing under MiFID II / MiFIR

Name and address of the responsible entity

UBS Group AG
Bahnhofstrasse 45
CH-8098 Zurich

As of 3 January 2018, Regulation (EU) No 600/2014 (MiFIR) and the Commission Delegated Regulation (EU) No 2017/2154 supplementing MiFIR with regard to regulatory technical standards on indirect clearing arrangements (the Indirect Clearing Rules) entered into force. In accordance with these rules, we are required to perform adjustments to our clearing processes of Exchange Traded Derivatives (ETD) transactions.

We are required to:

1) advise our clients of the availability of two account structures for their ETD transactions:

a) NOSA: Net Omnibus Indirect Client Account (also referred to as Basic Omnibus Indirect Client Account)
b) GOSA: Gross Omnibus Indirect Client Account – a new type of account that our clients may elect

2) disclose the details of the different levels of segregation
3) describe the risk involved with the respective levels of segregation offered
4) publish our Commercial Clearing Terms and Conditions