UBS gears up for another tilt at clearing
Swiss bank makes senior hires and upgrades tech platform ahead of Brexit and leverage offset
UBS has moved to dramatically step up its presence in client clearing with new hires and a sizeable investment in its tech platform, as European dealers jostle to compete in a sector long dominated by US megabanks.
Despite scaling back its clearing business several years ago, several factors are understood to have prompted the Swiss lender to scale up once again: forthcoming tweaks to capital rules that make the treatment of client margin more favourable; a push towards greater use of clearing
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