UBS said this morning that it has launched its advanced algorithmic trading platform, called Tap, in Asia-Pacific. The platform is part of its global automated dealing service, providing investors with access to dark pools of liquidity, and will be available for clients dealing in Hong Kong and Australian equities. The Swiss bank also intends to introduce the facility in Tokyo.
We've been monitoring Tap in the US and Europe for the past nine months and also analysing market data on the exchanges in Australia, Hong Kong and Japan, and concluded that Tap would be a valuable service for our clients in the region. We set up a pilot scheme in Hong Kong and Sydney...
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