Swiss bank UBS has launched its Direct Execution service, which comprises direct market access (DMA) and Direct Strategy Access – a combination of DMA and UBS algorithms – in Turkey.
Direct Execution (DE) enables UBS clients to send electronic orders directly to Istanbul Stock Exchange from their execution or order management system, including UBS’s own Pinpoint.
“We have already seen a significant amount of client interest in the opening of our DE service to Turkey,“ said Tim Wildenberg, head, direct execution services, Europe, UBS, in a statement. “We believe that this service, which will allow clients to trade directly via DMA or using the algorithmic service that they use for other markets, will be of particular benefit to those clients looking to expand their use of these modern trading techniques.”
UBS has already launched Direct Execution in several European emerging markets: Greece, Czech Republic, Hungary and Poland.