Trading places - May 2006
REVIEW OF THE YEAR
UBS to move operations to Zurich
FX Week
revealed in May that UBS was to close its London foreign exchange trading operations and move them over to Zurich in the summer.The bank confirmed it is moving its risk management and cash collateral trading business (FXCCT) on August 1. The division includes FX spot, derivatives and emerging markets trading. UBS said the decision was made to maximise efficiency. In Switzerland it will form a single central time-zone risk centre for Europe.
The client
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