UBS Q4 forex revenue fails to shine
ZURICH – Revenues from the fixed-income, currencies and commodities business at UBS shrank by 50% to Sfr496 million in the fourth quarter from Sfr985 million in the previous quarter.
In results released last week, the bank said the division was particularly hard hit in rates, driven by a drop in client volumes, a fall off in trading opportunities and tightening bid/offer spreads.
The year-ago comparison figure is illustrative of the turmoil gripping financial markets still reeling from the
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