Following completion of the merger of UBS AG and Credit Suisse AG, Credit Suisse AG’s business was transferred to UBS AG, and Credit Suisse AG ceased to exist. At this time however, the two entities did not operationally merge and, as a result, we continue to have two sets of operational infrastructure and processes during this transitionary period.
Consequently UBS AG is now the sole parent entity and all direct subsidiaries of Credit Suisse AG have become direct subsidiaries of UBS AG, and all branches of Credit Suisse AG have been absorbed into existing or established as new branches of UBS AG (as the case may be). As such, Credit Suisse AG’s branches have been renamed as UBS Branches, with the exceptions of Credit Suisse AG, Taipei Securities Branch and Credit Suisse AG Shanghai Branch.
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MiFID II Best Execution Reports
These MiFID "Top Five Broker" reports have been prepared for the purposes of meeting Credit Suisse (Deutschland) AG's obligations to publish yearly data relating to the Top Five Brokers used by the entity for transmitting client orders for all in scope MiFID II asset classes pursuant to the art. 65 of the Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 on duties of investments firms carrying out portfolio management and reception and transmission of orders to act in the best interests of the client and Commission Delegated Regulation (EU) 2017/576 of 8 June 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments with regard to regulatory technical standards for the annual publication by investment firms of information on the identity of execution venues and on the quality of execution (the "Regulation").
