UBS bags post trade gong

Guido Buehler, managing director of cash and derivatives options at UBS in Zurich, said: "In a commoditised market, price is no longer a differentiator. Brokers must find other ways to win new business flows."

He added that other factors are also driving the importance of the post trade environment for banks. Keeping costs down and limiting risk are also drivers of demand for good quality execution of post trade FX. Buehler said: "With operational risk being taken more and more seriously and cost pressures ever present, the quality of the post-trade experience becomes key. Operations managers need to optimise their processes to minimise operational risk and lower costs."

The bank set up an operations team dedicated to post trade services in the middle of last year and this also helped ensure that UBS won first prize, according to Buehler.

The bank will continue to innovate in the post trade arena. It is planning to establish a single portal to enable all post-trade processing across different asset classes to go through a single centre. The hub, which is due to be up and running by the second quarter of next year, will enable it to build its FX business and cut margins, said Buehler.