UBS to trade derivatives in Mexico
UBS is to launch banking services in Mexico, after being granted a licence to operate in the country. The bank will start trading by mid-February and hopes to be offering derivatives products by June. Initially, UBS will offer cash, foreign exchange and debt products to institutional investors in the country, with a view to expanding its services to individual clients in the future.
The bank already has a representative office in Mexico City with 13 staff which will be expanded to 25 over the
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