Ubs Direct Market Access Agreement

The DMA option allows clients to send their listed options orders either to the UBS Smart Router – which then forwards orders to the best options exchange at the right time – or clients can send orders to a given exchange. “We are confident that our respective clients` access to each other`s liquidity in an increasingly fragmented market will produce better cross-referencing outcomes for our clients,” said Greg Tusar, Managing Director, Goldman Sachs Electronic Trading. UBS has already launched Direct Execution in several emerging European countries: Greece, the Czech Republic, Hungary and Poland. With this initiative, companies intend to address the increasing complexity of market fragmentation across different unindicated liquidity places. UBS is the world`s leading asset manager, a leader in investment banking and securities and one of the world`s largest asset managers. Supervisors on Monday fined Credit Suisse Securities $6.5 million and convicted them of failing to control and monitor trade-related orders worth more than $300 million, allowing dealer brokers and other institutional clients to enter directly on U.S. stock exchanges for four years. Direct Execution (DE) allows UBS clients to send electronic orders directly from their execution or order management system to the Istanbul Stock Exchange, including the UBS pinpoint. According to the statement of approval, Credit Suisse`s failure to adequately manage financial and regulatory risks in its post-trade direct access activities was contrary to various provisions of Rule 15c3-5, the SEC`s market access rule.