UBS MTF appoints SocGen as clearer

software_410Societe Generale Securities Services (SGSS) has become a clearer for UBS MTF, the multi-lateral trading facility offered by UBS bank.

It has become a ‘general clearing member’ by extending its clearing licence with SIX x-clear, one of two central counterparties (CCPs) selected by UBS for its MTF.

SIX x-clear is part of SIX Securities Services, and primarily acts as the CCP for SIX Swiss Exchange and the London Stock Exchange.

UBS MTF is the first MTF to offer full interoperability for cash equities. It launched in November 2010.

Its other CCP is EuroCCP.

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