UBS has announced that it can now direct client order flow to NYSE Arca Europe, the pan-European multilateral trading facility (MTF) launched by exchange group NYSE Euronext earlier of this month.
“We constantly assess new venues with a view to providing best execution for our clients,” said Tim Wildenberg, head, direct execution services, Europe, UBS.
“The addition of Arca Europe will further enhance access to liquidity for our clients, whether they choose to trade via direct execution or any other execution service at UBS.”
NYSE Arca Europe offers trading in European stocks outside parent NSE Euronext’s home markets of France, Belgium, Portugal and the Netherlands. Since launch, the platform has provided trading in stocks listed in Austria, Denmark, Finland, Germany, Italy, Norway, Spain, Sweden and Switzerland. It plans to roll out UK and Irish stocks in April.
Trading on the MTF will be free until April as part of a three-week-long launch promotion, after which it will charge 0.15 basis points for both passive and aggressive orders.
UBS already has connected to other European multilateral trading facilities, including Chi-X, Turquoise, Nasdaq OMX Europe, SWX Swiss Block, NYFIX Euro Millennium and BATS Europe.