UBS Shuts Down Credit Suisse's Global Markets Business

UBS is winding down trading in global securities as it integrates Credit Suisse, reducing the volume of new markets business from September 22. Credit Suisse clients will no longer be able to increase positions or extend maturities, but existing positions will continue to be serviced. UBS will focus on consolidating new client activity through its own legal entities. Holding onto existing Credit Suisse clients is crucial for UBS's successful integration.