Once the world’s largest, UBS trading floor now nearly vacant

Commentary, News

What a difference a decade makes.

Back in pre-financial crisis days, the UBS trading floor in Stamford, Conn., — once the world’s largest — had more than 5,000 traders slamming phones and kicking trash cans.

Fast forward to today and the near-vacant building — larger than a football field — has been put on the sale block, since the Swiss bank hasn’t been able to restock its trader ranks after the 2008 financial crisis,the Wall Street Journal reported.

At its peak, the 40-foot-high room was the state-of-the-art trading floor for stock, bond and currency traders.

Many of the traders were moved back to Manhattan after the financial crisis as rents in the city fell.

The 712,000-square-foot building is a throwback to the go-go days of Wall Street when proprietary trading was a major revenue driver for banks and hedge funds. New regulations in Dodd Frank have curtailed those operations.

Read this article in its original format at The New York Post

MrTopStep Group

Questions: info@mrtopstep.com

Follow Us On Facebook and Twitter For More Intra-Day Market Updates!
https://twitter.com/MrTopStep (@MrTopStep)

Dont Forget To Subscribe To Our YouTube Channel!
Sign Up Here: http://www.youtube.com/mrtopstepgroup

(Visited 95 times, 1 visits today)

Leave a Reply