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2026 Annual Reviewv2026.2

2026 · Evidence audit

UBS Neo (FX) — institutional liquidity provider

UBS Neo operates under UBS AG, a Tier-1 bank based in Switzerland. The platform offers a range of FX products and is accessible to institutional clients only. Self-measured claims regarding volume growth and liquidity depth should be scrutinized for accuracy.

UBS AG · Zurich, Switzerland · last re-checked 2026-09 · evidence score 98/100

01

Licence, read on the register

RegulatorLicence numberJurisdictionTierSource
FINMAnot verifiedSwitzerlandtier-1open source ↗
FCA (UBS AG London Branch)186958UKtier-1open source ↗
SEC/FINRA (BrokerCheck, UBS Securities LLC)8-22651UStier-1open source ↗
NYSE (UBS Group AG listed)not verifiedUStier-1open source ↗

Tier classification follows the same scale as the retail register: tier-1 = FCA/ASIC/CFTC-class supervision, tier-2 = CySEC/FSC-Mauritius/MFSA-class, tier-3 = offshore registration. A tier-2 licence is genuine supervision without an investor compensation scheme — never misread it as tier-1 protection.

02

What the firm commits to

Claims specific enough to be falsified — and the ones that remain the venue's own measurement.

A

Testable claims

  • UBS Neo is the bank's cross-asset electronic platform providing 'electronic access to the best of UBS' (ubs.com investment-bank/ubs-neo page)
  • UBS Investment Bank e-FX offers around-the-clock streaming prices across G10, Emerging Market and Precious Metals (ubs.com electronic-trading/fx page)
  • UBS Group is subject to consolidated supervision by FINMA; UBS AG London Branch FCA FRN 186958 is authorised (UBS Annual Report 2025; FCA register firm page)
B

Claims we cannot verify from outside

  • NeoFX volume growth figures (self-measured, Euromoney-cited)
  • Liquidity depth claims (self-measured)
03

Perimeter and coverage

Asset classesVenuesConnectivityClients acceptedExplicitly refused
FX spot, FX forwards, FX swaps, NDFs, FX options, Precious metalsEBS, Reuters, CME FX, CLSFIX, REST/API, UBS Neo platformBanks, Institutional investors, Asset managers, Hedge funds, CorporatesRetail clients

A firm that publishes its own negative space — who it refuses, where it is not licensed — is materially easier to diligence than one that doesn't. The refusal list is treated here as a disclosure, not a defect.