UBS reaps volatility rewards in third quarter

In the third quarter, foreign exchange net interest and trading income hit Sfr351 million ($264 million), up from Sfr287 million ($193 million) in the same period the year before.

Martin Wiedmann, global head of FX distribution at UBS in Zurich, said Q3 was "an extremely good quarter, as market volatility caused big moves that were friendly to us." The quarter also showed strong results for its e-commerce business, with record FX volumes on its online platform (FX Week, October 6).

Wiedmann s