News

UBS Tells Three FX Traders To Take Five

…while the firm tries to figure out if the trio engaged in any currency rigging.

UBS AG suspended foreign-exchange traders in the U.S., Singapore and Switzerland as its investigation into the alleged rigging of currency markets widened, according to a person with knowledge of the matter. They include Onur Sert, an emerging markets spot trader based in New York, and at least three more worldwide, said the person, who asked not to be identified because of the probe. Sert and Dominik von Arx, a spokesman for UBS in London, both declined to comment on the move. Switzerland’s largest bank opened a review of its currency operations last year after Bloomberg News reported in June that traders in the industry had colluded to rig the WM/Reuters rates, a benchmark used by investors and companies around the world.

UBS Said to Suspend FX Traders in New York, Zurich and Singapore [Bloomberg]

Related: UBS Tried, And Failed, To Rig Hong Kong Interest Rate

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8 Responses to “UBS Tells Three FX Traders To Take Five”

  1. Big Dick Levine says:

    Just one of many greedy, corrupt democrats in this country. Trader = Dumobcrap, Butt = Smelly

  2. Guest says:

    trading forex in Switzerland without manipulating has to be tough when the central bank is manipulating the euro/swiss franc rate.

  3. You and Us says:

    That pic can only mean one thing… BONUS SEASON!!

  4. A Swatch?!!! says:

    Is that a Swatch? Holy smoking Bettie's that Is weak.

  5. Kweku Adoboli says:

    Tch tch

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