What do members need to do?

No specific action is required from members although, should the transfer referred to below not take place as planned, consideration should be given by members to any changes they may wish to make to internal systems.

Transfer of members to Aquis Exchange PLC

It is proposed that current members of UBS MTF will be transferred to AQX effective post close of business on Friday 1 April 2022. Subject to receiving regulatory approval and completion, AQX will, from opening of business on 4th April, operate a dark book for members, “the AQX Matching Pool”, , using the existing UBS MTF technology. This means that no technical changes are required by members at this point and the existing MIC (XUBS) will be used. This will not include a periodic auction offering.

What do members need to do?

No action is required by members at this point. In particular, there is no need to re-execute your Membership Agreement. In line with previous transfers of operators of UBS MTF, pursuant to Clause 9.2 of the Membership Agreement, UBS MTF Limited will assign and transfer all its rights and obligations under that Agreement to AQX. Any continued activity by you in connection with the AQX Matching Pool after the date of transfer will be contracted with AQX, and not with UBS MTF Limited. Your continued dealings with or through AQX in respect of the AQX Matching Pool after that date will represent an acknowledgement by you that from that date, AQX is your contractual counterpart under the Agreement rather than UBS MTF Limited. References to Operator shall be construed as being to AQX and references to Rules and Rulebook shall be to the AQX rulebook which shall govern the operation of the AQX Matching Pool. Details of the AQX Rulebook, Connectivity Guide and other materials are available at www.aquis.eu and are in substantially the same form as under UBS MTF with the exception of the periodic auction.

UBS MTF Limited will remain responsible for all contractual obligations and liabilities up until the point of transfer and shall invoice members for sums due up to and including 1 April 2022.

UBS MTF propose to confirm on 1 April whether the transfer to AQX is proceeding as planned, though UBS MTF Limited will cease operating from close of business after close on 1 April, regardless of transfer progress to AQX.