Indexing operations will remain intact in commodities shake-up, says UBS

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UBS has confirmed that its commodity indexing business will stay intact following the announcement of the closure of its fixed-income commodity business (excluding precious metals). The business is classified as part of the equities side of the bank, and so will remain as it was previously. Two thousand job cuts were announced earlier this month as part of a repositioning of the investment bank. In the fixed income, currency and commodities business, real estate and securitization and proprie