UBS to Move Tokyo Rates Trading to Sydney in Asia Revamp
- Bank of Japan’s bond buying has reduced JGB trading activity
- UBS says it will continue to participate in yen bond trading
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UBS Group AG will relocate its Tokyo-based rates trading business to Sydney by the end of this year as the Swiss bank reorganizes its Asia-Pacific operations.
The firm has initiated the process to relinquish its Japan Government Bond primary dealership, though the change won’t impact UBS’s other fixed-income trading businesses conducted with Japanese clients, it said in a statement Friday.