Swiss bank UBS Group AG plans to wind down a business in its US mortgage unit that focuses on “to-be-announced” (TBA) trading.
TBA trading is a type of securities transaction in which the buyer and seller agree on the general terms of a trade, but the specific securities are not determined until after the trade is agreed upon.
UBS plans to wind down its TBA trading business due to new regulations and changing market conditions. The move will impact a small number of employees in the US mortgage unit.
-Swiss bank UBS Group AG plans to wind down a business in its US mortgage unit that focuses on “to-be-announced” (TBA) trading.
-TBA trading is a type of securities transaction in which the buyer and seller agree on the general terms of a trade, but the specific securities are not determined until after the trade is agreed upon.
-UBS plans to wind down its TBA trading business due to new regulations and changing market conditions. The move will impact a small number of employees in the US mortgage unit.
You can read this full article at: https://www.housingwire.com/articles/ubs-to-close-business-in-u-s-mortgage-trading-unit/(subscription required)
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