UBS brings new algos to Europe to tap liquidity

UBS Tap actively seeks liquidity in the market and minimises its price impact by taking advantage of the bank's own crossing capabilities and rarely putting shares on the public order book.

Where the bank's existing algorithms have focussed on gaining advantage in time and price, the new products are specifically designed to access diverse liquidity from dark pools, ATSs, ECNs, exchanges and the UBS price improvement network (PIN), which is essentially the bank's proprietary crossing network.

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