UBS closes Zurich spot desk, boosts FX trading in London


ZURICH -- UBS Warburg has closed its spot FX trading desk in its Zurich headquarters, redeploying staff to its London office.

The move will boost the bank’s London spot desk to a total of 16 traders, expand its trading hours and become the bank’s only trading desk in the European timezone for spot FX, the bank said.

Five traders in the Zurich office are affected by the move: they will either join the London spot desk or be redeployed elsewhere in the bank, said a spokesperson.

Christoph Meier