Post Trade

We have expounded long and in detail in the Multi Asset Class Platform Award about the all round excellence of Neo, but we cannot, and should not, forget the ongoing powerhouse that is the UBS post-trade initiative. Just as the evolution of the Neo platform has been described by us as a journey, so to is UBS’ post-trade offering – mainly because even though it stands out year after year, every successive turn of the calendar brings new innovation and greater automation.

The main transport for this journey in the post-trade has been robotics and from deploying the technology in its post-trade services, ensuring that any problems are identified early and resolved or escalated, the bank has now moved onto staffing its business with people who can design, build and maintain robotic devices. This empowering of the employee ensures they remain engaged and, most importantly, helps to stoke the innovation fires within UBS.

Not only does the greater use of robotics empower the employee, however, far more crucially it allows the bank to process multiples of actions compared to just three years ago. With UBS’ vast wealth management client base on Neo the chances are there are more transactions than ever to handle, but it is testament to the excellence of the concept, design and execution of the project that it is hardly noticeable. There is also the added benefit of having comfort knowing that as various parts of the business go after extra tickets there will be no capacity constraints – something that is a benefit to UBS’ excellent prime brokerage business as well.

We ran out of superlatives to describe UBS’ post-trade business some years ago, but it is heartening to see it continue to innovate, even if, inevitably, the enhancements are starting to be felt around the edges rather than in the core of the business. With its work to help deliver client self-service, easier ratification of documentation using optical signatures and voice recognition technology, the last year has been another busy one for the best post-trade team in the business – and it shows no signs of slowing down and letting someone else take up the banner of the best in the business.

Structured Products

As a once clear leader in the FX options space it was strange to see UBS relegated to the pack a few years back in this vital product area, but the past two years has seen the bank re-gather its momentum and build the product suite out further.

This award is about more than just structured products in the FX options sense, although in the past year UBS has added second generation exotics to its product suite as well as a lot of functionality within the FX options product set on Neo. It also continues to add products such as accumulators and streaming exotics to its service.

Where UBS really scores points, however, is in the continued excellence of its structured products business, especially the use of Actively Managed Certificates (AMCs). Simply speaking, UBS’ AMC service on Neo allows a client to build any product they like from the thousands of assets available and, as noted earlier in the main award write up, they can now establish a target and set an algo to work for them.

For several years now the write up of the Digital FX Awards has started and ended with UBS. This year is no different as UBS remains the standout provider of structured products in a variety of forms, all configurable to the client. There really is nowhere else a client needs to go.

Galen Stops

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