UBS developing trading suggestions algorithm - report

Monday, 13. August 2018 13:24

Investment banking company UBS is developing an algorithm which would allow recommendations of interesting trades to hedge fund and asset management clients, according to a report by Financial Times released on Monday. The project is in early stages of development, currently being tested in the bank’s corporate bond trading business.

"Imagine what the world looked like when you watched television and had to scan through channels, whereas now it is not only on demand, it is presented to you so you easily find what you are looking for. That’s what we are trying to do for our clients, presenting them with a choice of likely, interesting trades," UBS Managing Director Giuseppe Nuti told FT.

Three weeks ago, UBS Group AG reported an increase in net profit by 9% on a yearly basis.

Related Links: UBS Group AG
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Breaking the News / BM