UBS posts record Q3 FX revenues
"Forex and money markets had a record quarter as key businesses benefited from strong client flow and successful trading strategies in times of extreme market volatility," said John Cryan, chief financial officer at UBS in Zurich.
Cryan singled out gains from an increase in spreads in the short-term interest rates operations as the main contributor. This was a result of the bank continuing to provide liquidity in the past few weeks, despite the stressed market conditions. "We were one of the few
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