Dark multilateral trading facility UBS MTF, owned by Swiss bank UBS, is to accept orders in Italian instruments from 22 June 2011.
Launched in November 2010, UBS MTF is operationally and managerially separate from the firm's internal crossing network, PIN. UBS MTF matches orders on a non-discretionary basis and includes direct market access and proprietary flow from within the bank. Orders are matched based on the mid-point price of the primary market.
The addition of 237 Italian instruments means that the UBS MTF stock universe will instruments from Austria, Belgium, Denmark, Finland, France, Germany, Italy, The Netherlands, Norway, Portugal, Sweden, Switzerland and the United Kingdom.
“We added FTSE Italia All-Share constituents to UBS MTF in response to demand from our participants,” said Robert Barnes, CEO at UBS MTF. “They increasingly desire diversification by geography and by market capitalisation.”
Trades on UBS MTF are cleared by pan-European central counterparty SIX x-clear. All executions are reported in real time to Markit BOAT.