UBS has led Australian secondary equity trading for a decade, and in 2025 it widened the gap. Its 21.3% share of trading across ASX and Cboe was more than double that of its nearest competitor, extending a run at the top of the market that began in 2015. The bank also ranked first in Australian block trading in both 2024 and 2025, executing the largest notional volumes in the market.
That position rests on a full execution toolkit spanning programme trading, high-touch and low-touch execution, derivatives and transition management, which lets clients move between channels depending on the size and urgency of an order.
The client base grew sharply during the year. Active equities clients rose from 1,032 at the half-year to 1,388 by December, while average daily trading volume reached AUD4.1 billion ($2.7 billion) at year-end. The number of clients using equity financing, synthetics and stock loan services climbed from 451 to 560, a sign that institutions were consolidating more of their equities activity with the bank.
Teams now operate from real-time, structured client and market data, so that client needs and trading signals are picked up earlier
Research gives the trading franchise its edge. UBS covers more than 200 ASX-listed stocks, the second-largest coverage in the market, and topped the inaugural Extel Australia and New Zealand survey in 2025. It placed in all 19 research categories, with eight teams ranked first, in a poll where more than half the votes came directly from buy-side panels.
The bank also changed how its sales force works. Teams now operate from real-time, structured client and market data, so that client needs and trading signals are picked up earlier. AI tools are embedded in daily workflows under formal training and control frameworks, cutting time spent on manual tasks and allowing salespeople to spend more of their day on trade ideas and client conversations.
