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341 firms on file · 202 identified entity records 73 carry a published regulator notice

COUNTERPARTY FILE · last re-checked 2026-09

UBS Neo (FX) — institutional liquidity provider

This record highlights potential transparency issues regarding licensing and self-reported metrics.

UBS AG · Zurich, Switzerland

evidence score
98/100

Licence, read literally

RegulatorLicence numberJurisdictionTierSource
FINMAnot verifiedSwitzerlandT1open source
FCA (UBS AG London Branch)186958UKT1open source
SEC/FINRA (BrokerCheck, UBS Securities LLC)8-22651UST1open source
NYSE (UBS Group AG listed)not verifiedUST1open source
Tier classification follows the same scale as the retail register: tier-2 means real supervision and client-money segregation, without an investor compensation scheme — never misread it as tier-1 protection.

Residuals a counterparty carries

2

  1. R01

    Unpublished FINMA licence number

    UBS AG's FINMA banking licence number is not published, raising transparency concerns.

    Source: firm disclosures page

  2. R02

    Self-measured volume growth figures

    NeoFX volume growth figures are self-measured and cited by Euromoney.

    Source: self-measured claims

The claims ledger

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

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)

Claims we cannot verify from outside

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

Perimeter and coverage

Asset classes
FX spot, FX forwards, FX swaps, NDFs, FX options, Precious metals
Venues
EBS, Reuters, CME FX, CLS
Connectivity
FIX, REST/API, UBS Neo platform
Clients accepted
Banks, Institutional investors, Asset managers, Hedge funds, Corporates
Explicitly refused
Retail 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 disclosure, not as a defect.