Our unique liquidity

Our unique liquidity

We believe that by operating our own internal pools we can provide quality liquidity in a controlled environment that is key to optimizing your execution strategy. UBS PIN1 provides liquidity you can't get anywhere else.

Globally these pools are amongst the largest offering unique non-displayed liquidity in the market.2 Through the deep understanding of our internal pools paired with a well monitored execution environment we provide the quality liquidity you need.
 

UBS PIN

With UBS PIN, we provide quality liquidity with no high frequency trading or electronic liquidity providers in the pool3. We believe this is truly unique liquidity.

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UBS ATS

UBS ATS, our SEC-registered alternative trading system, 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”)3, subject to certain crossing restrictions.

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UBS MTF

UBS MTF is our non-displayed multilateral trading facility for European stocks which incorporates principles including efficiency, fair access and client choice.

We offer a diverse range of liquidity across 17 European markets.

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UBS Cross

In Asia Pacific, UBS Cross offers a broader pool of non-displayed liquidity complementary to UBS PIN. This is available in Hong Kong and Japan.

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Access to liquidity

Providing a clear path through the market complexity is a key driver behind everything we do.

We understand the simple goal for our clients remains the same.

How do you find the liquidity you need
at a price that's right for you?

At UBS we draw on the combination of world class technology and our human edge to help our clients do just that.

By working alongside clients around the world to understand their businesses we can create solutions together that drive quality execution by providing access to deep and diverse liquidity, tailored to fit our clients' execution strategies.

Our award winning1 algorithmic trading strategies access quality liquidity, both displayed and non-displayed, wherever our clients need it worldwide connecting to over 130 markets.

We access a broad and growing network of alternative liquidity venues across the US and Canada, APAC and EMEA. We rigorously evaluate each venue we connect to for quality and kind of liquidity offered in keeping with our liquidity philosophy.

Our Direct Market Access (DMA) platform offers access to the major global equity markets and is expanding as we connect to new markets to increase our liquidity offering.

Our liquidity philosophy

Our liquidity philosophy:

  • Transparency on how flows interact within our liquidity pools.
  • Deep and diverse liquidity to fit varied execution strategies.
  • Protections against information leakage and gaming.
  • Controlled access for quality liquidity sources only.

Request a copy of our full liquidity philosophy.

UBS PIN Quality liquidity, unique to UBS

UBS pin

To offer quality liquidity, we operate our own internal non-displayed crossing network, UBS PIN, in the US, Europe, Hong Kong, Japan and Australia.1

At UBS we believe that providing a controlled liquidity environment is key to optimizing your execution quality.

UBS PIN has:

  • No high frequency traders2
  • No electronic liquidity providers
  • All flow is routed via UBS algorithms/SOR or sourced from our wealth management/retail business.

With top-tier market share and global reach across all major markets, we provide liquidity that is not only deep but also diverse, giving you more opportunities to cross.

Americas

To help ensure that your orders interact with liquidity that fits your strategy within UBS, we offer UBS PIN (US), a controlled environment implemented within UBS ATS.

APAC

Among the first broker dealers to launch an internal crossing network in Asia Pacific, UBS currently offers PIN in Japan, Australia, and Hong Kong.

For further information on UBS PIN and UBS Cross in APAC please refer to the APAC Crossing disclosure (PDF, 164 KB).

 

EMEA

We are committed to providing quality liquidity within UBS PIN. Our clients' may select whether they wish to interact with both UBS PIN and UBS MTF in line with their goals and trading preferences.

 

UBS ATS Wouldn't it be great if alternative liquidity actually provided an alternative?

UBS ATS

UBS ATS is an SEC-registered Alternative Trading system that crosses non-displayed orders in US equity securities.

We offer a diverse range of liquidity across market caps with orders for over 7,000 individual stocks and ETFs passing through the ATS daily, spanning more than 40 different market sectors.

 

Our offering in the Americas includes:

  • 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.
  • UBS PIN (US), a differentiated segment of liquidity operated within UBS ATS, which facilitates interaction between UBS retail and UBS institutional algorithmic order flow.

Contact us for more information or to subscribe:

UBS ATS
1285 Avenue of the Americas,
New York, NY 10019
+1-800-563 8018
ats@ubs.com

As part of our continued commitment to transparency to help our clients understand exactly how their orders are handled within our pools, we have made the following documents available:

UBS MTF Multilateral Trading Facility for European Equities

UBS MTF is our FCA regulated non-displayed multilateral trading facility. It incorporates the principles the firm advocates world-wide, including efficiency, fair access and client choice.

We offer a diverse range of liquidity across market caps offering over 3,400 individual instruments across seventeen European markets, trading Equities and Depositary Receipts. In order to help participants manage settlement costs and potential counterparty risks, UBS MTF features a CCP model. All executions on UBS MTF will be reported in real time to the BATS Trade Reporting Service.

 

For full details, please visit www.ubs.com/mtf

Why UBS MTF?

  • Open to external members, we operate an objective membership access policy.
  • Match orders on price/time priority.
  • The MTF operates with a segregated team.
  • 100% Dark
  • Mid-point, Bid and Offer matching based on the price of the Reference market.
  • More crossing. No extra work. Access to a broader pool of liquidity.
  • Central Counterparty (CCP) model.

UBS Cross More diverse crossing opportunities in Asia Pacific

Given the challenges of sourcing quality liquidity and ever-increasing market complexity, our clients' ability to access the right kind of liquidity and achieve price improvement is more important than ever. UBS Cross is available in Hong Kong and Japan, and was developed to be a source of non-displayed liquidity, complementary to what can already be found in UBS PIN.

UBS Cross offers access to a wide cross-section of liquidity, broadening our clients' routing choices and enhancing their ability to interact with other non-displayed orders before trading in the displayed market.

We are committed to providing quality liquidity within UBS PIN. As always, our clients' may select whether they wish to interact with both UBS PIN and UBS Cross in line with their goals and trading preferences.


For further information on UBS PIN and UBS Cross in APAC please refer to the APAC Crossing disclosure. (PDF, 164 KB)

UBS Cross

Access to UBS Cross and UBS PIN may be tailored to:

  • Offer the potential to enhance performance by providing access to a broader pool of non-displayed liquidity, including UBS internal liquidity
  • Deliver potential queue improvement functionality to the displayed market