<?xml version="1.0" encoding="UTF-8"?>
<cov:edgarSubmission xmlns:cov="http://www.sec.gov/edgar/atsn/cover" xmlns:ats="http://www.sec.gov/edgar/atsncommon">
  <cov:submissionType>ATS-N/MA</cov:submissionType>
  <cov:rbOperatesPursuantToFormATS>N</cov:rbOperatesPursuantToFormATS>
  <cov:accessionNumber>0001839882-26-034355</cov:accessionNumber>
  <cov:filerCredentials>
    <cov:filerCik>0000230611</cov:filerCik>
    <cov:filerCcc>XXXXXXXX</cov:filerCcc>
  </cov:filerCredentials>
  <cov:fileNumber>013-00069</cov:fileNumber>
  <cov:txNMSStockATSName>UBS ATS</cov:txNMSStockATSName>
  <cov:taStatementAboutAmendment>This Material Amendment includes changes to Part III, Item 9 of this Form ATS-N and is intended to disclose a change to the Invite message generated for certain Conditional Indications (CIs) received from the UBS Algo. Specifically, when two opposite-side CIs received from the UBS Algo trigger an Invite to the other, and each CI uses a Conditional Invite Grade restriction to limit Invites to other UBS Algo CIs, the contra CI quantity will be provided on the Invite message, but no price information will be included.

This change only affects the Broker-Dealer Operator.
</cov:taStatementAboutAmendment>
  <cov:liveTestFlag>LIVE</cov:liveTestFlag>
  <cov:flags>
    <cov:overrideInternetFlag>false</cov:overrideInternetFlag>
    <cov:confirmingCopyFlag>false</cov:confirmingCopyFlag>
  </cov:flags>
</cov:edgarSubmission>
