UBS Investment Bank has signalled its readiness to begin trading over SwiftNet FIX, adding its name to the four securities firms that joined the early adopter pilot programme earlier this week.
On Monday, Swift introduced Bank of Ireland, Credit Agricole Indosuez Chevreux, Morgan Stanley Investment Management and Nomura International to the roster of 45 firms already signed up for the programme.
The hub service aims to eliminate the need for firms to install, certify and maintain multiple network and application conncetions when exchanging FIX messages with trading partners.
Says Tim Wildenberg, global head of electronic execution, UBS Investment Bank: "Testing is in progress with a view to offering all of our electronic execution services iva this service - from our 'Bank for Banks' initiative for retail, through to our high-end institutional execution services."