The Stamp Duty and Stamp Duty Reserve Tax (Investment Exchanges and Clearing Houses) Regulations (No. 5) 2010
These Regulations exempt from stamp duty and stamp duty reserve tax (“SDRT”) certain transfers of, or agreements to transfer, traded securities made in the course of trading in those securities on the UBS MTF, a multilateral trading facility operated by UBS Limited. The transfers and agreements exempted are those involving European Central Counterparty Limited (“EuroCCP”) and/or SIX X-CLEAR AG (“X-CLEAR”), and nominees of either clearing house, (through whom transactions on the UBS MTF are cleared), or clearing participants in EuroCCP and/or X-CLEAR and their nominees.