Frequently asked questions

A "Global Registered Share" is a security that can be traded and transferred across applicable borders without the need for conversion. This means that identical shares can be traded on different stock exchanges in different currencies. For example, the same share purchased on the SIX Swiss Exchange can be sold on the New York Stock Exchange or vice versa.

UBS is pioneering the Global Registered Share (GRS), which allows for cross-market portability at minimized cost to investors. The concept behind American Depository Receipts (ADRs) is the creation of tailor-made securities for individual unlinked markets, following local regulations. UBS believes that, with the globalization of financial markets, this concept is becoming less valid for securities, which will increasingly be traded in multiple markets. UBS believes that a global fungible security can best track liquidity across the globe. UBS also believes that regulatory structures of different markets will continue to align, reducing the need to have individual securities in each market to comply with different local regulations.

The UBS GRS is listed on the SIX Swiss Exchange and the New York Stock Exchange.

The Group Review section of UBS's quarterly reports contains a 'UBS Shares and Market Capitalization' table listing the number of outstanding shares for market capitalization. In addition, the quarterly reports contain a more detailed 'Note to the Financial Statements' detailing 'Earnings per Share (EPS) and Outstanding Shares'.