Brokers criticise UBS futures trading deal with Bloomberg
The deal, agreed last year and currently in place, means futures trades placed by clients through Bloomberg must be executed by UBS. The deal applies to all new users of Bloomberg terminals. Those who have existing accounts with Bloomberg can execute futures trades with the bank of their choice.
The deal has angered some leading brokers, including Paul Dex, global head of sales and marketing at SEB in London. Dex said he was told by Bloomberg that the new Bloomberg clients would have to pay
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