UBS MTF is writing to advise you of the changes that it is making to its legal structure in preparation for Brexit.
Transfer of UBS MTF Operation to UBS AG London Branch
In March 2018, UBS announced that UBS Limited (UBSL) will merge into its German subsidiary, UBS Europe SE
(UBS ESE), before 29 March 2019. Upon the merger, UBSL will be dissolved by operation of law.
Having considered various options, UBS wishes for UBS MTF to remain a UK venue and to that end has decided that UBS AG London branch (AGLB) will take over the operation of UBS MTF from UBSL. Should you have a relationship with UBSL outside of your membership of UBS MTF, changes affecting that relationship will be communicated to you separately.
Timing of Transfer
The transfer of the operation to AGLB will take place on 6 October 2018. This transfer of UBS MTF to AGLB is part of a broader transfer of various elements of UBSL’s business in advance of the merger between UBSL and UBS ESE.
What do you need to do?
There is nothing that Members need to do as a result of this change of operator. In particular, there is no need to re-execute the Membership Agreement. Pursuant to Clause 9.2 of the Membership Agreement, UBSL will assign and transfer all its rights and obligations under that Agreement to AGLB. Any continued activity by you through UBS MTF after the date of transfer will be contracted with AGLB, and not with UBSL, and your continued dealings with or through UBS MTF after that date will represent an acknowledgement by you that AGLB is your contractual counterpart under the Agreement rather than UBSL.
We would encourage you to read the information provided in the FAQ document that should address a number of the questions and issues that you might have.
If you have any queries regarding this notice please contact the UBS MTF Supervisors at +44 207 568 2052 or ubs_mtf@ubs.com.
UBS MTF Management
