UBS doubles FX revenues in first quarter
No agreement with DoJ, but talks continue
Swiss bank UBS has more than doubled revenues for its foreign exchange, rates and credit (FRC) business in the first quarter of the year, benefiting from the Swiss National Bank's (SNB) decision to remove the EUR/CHF minimum exchange floor, the firm stated in its earnings release.
Revenues from the FRC segment amounted to CHF 701 million, compared with CHF 297 million in the last quarter of 2014, representing an increase of 136% quarter-on-quarter, as volatility levels remained elevated since
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