Stock slump dents income, hikes VAR by 22% at UBS
Income from equity derivatives trading plummeted $47 million quarter-on-quarter
Whipsawing stock markets caused risk indicators to surge at UBS and frightened clients out of trading, leading to a 10% dive in the bank’s equities revenues in the fourth quarter of 2018.
Income from equity derivatives trading plummeted $47 million (23%) and from cash equities trading $16 million (5%) in the last three months of the year. Overall, the equities divisions’ revenues slipped $92
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