Union Bank of Switzerland (UBS) has chosen FNX Limited as the supplier for a worldwide FX derivatives management system. According to FNX officials, its Analytic Blotter tool (a real-time risk-management device that can combine risk and group together currencies) was key to the purchasing decision by UBS. Last year, UBS created a global options book as part of a bank-wide reorganisation of foreign exchange derivatives (FX Week, September 13). UBS is already using FNX in London, New York

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