Source: UBS
UBS Investment Bank today announced that it received notice from the UK Financial Services Authority (FSA) granting permission to operate UBS MTF, effective 17 August, 2010. This approval is a significant milestone in the process of launching the firm's new European multilateral trading facility for crossing securities.
Robert Barnes, CEO of UBS MTF, said: "We're pleased to have the FSA's approval to proceed. Throughout the application process, we emphasized client choice, innovation, fair access, and efficiency, the core ideologies that inspired the business model of UBS MTF. This is a major step forward in our goal towards going live in the fourth quarter."