Further to the UBS MTF recent notice N2 UBS MTF is confirming the following.
Following Close of business on 1 April 2022:
1) Cessation of UBS MTF
UBS MTF Limited will cease operating UBS MTF effective close of business, 1st April 2022. After this time, the service will no longer be offered to members by UBS (please see below regarding the proposed transfer to Aquis Exchange PLC (“AQX”))
2) Transfer of your membership to Aquis Exchange PLC (“AQX”)
Current members of UBS MTF will automatically be transferred to AQX effective 17:00 BST on Friday 1 April 2022. 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 you need to do?
No action is required by members.
As referenced in the previous market notice and in line with previous practice when transferring operators, your membership agreements will transfer automatically pursuant to Clause 9.2 of your Membership Agreement and there is no need to re-execute your Membership Agreement with AQX. UBS MTF Limited will assign and transfer all its rights and obligations under your Membership Agreement to AQX. Your continued dealings with or through AQX in respect of the AQX Matching Pool after 17:00 BST on 1 April will represent an acknowledgement by you that from that date, AQX is your contractual counterpart under the Membership 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.
If you have any queries regarding this notice please contact the UBS MTF Supervisors at +44 207 568 2052 or ubs_mtf@ubs.com.
