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UBS Warburg Expansion Creates World's Largest Trading Floor
UBS Warburg today announced that it has completed the construction of a 36,000 square foot expansion of its Stamford trading floor. The expanded facility is now the largest securities trading floor in the world, able to accommodate 1,400 traders and staff, up from 800. The addition brings the total size of the floor to 103,000 square feet, approximately the size of two football fields.
"This expansion demonstrates our continued momentum in growing our investment banking and capital markets presence in the U.S. market," said John P. Costas, chief executive officer of UBS Warburg. "Today, we are one the world's largest institutional traders and are making significant inroads across the full product spectrum."
Notable rankings of UBS Warburg in trading activities include:
* Number one institutional trader of non-U.S. equities and number two institutional trader globally
* Number five trader of shares on the New York Stock Exchange
* Number one underwriter of U.S. residential mortgage-backed securities as well as U.S. retail preferred securities
* Number one distributor of Latin American equities globally
* Leading position in foreign exchange, with a 10% market share
Besides the trading floor, the firm also added space for technical and related operations as well as a seven-floor, 266,000 square foot mechanical area and garage with room for 500 cars. With the addition, UBS Warburg's Stamford headquarters will provide approximately one million square feet of space for 4,000 employees.
UBS Warburg is a business group of UBS (NYSE: UBS), one of the largest financial services firms in the world with 71,000 employees in more than 40 countries. UBS Warburg is a leader in equities, corporate finance, M&A advisory and financing, financial structuring, fixed income issuance and trading, foreign exchange, derivatives and risk management. The firm is one of four business groups of UBS AG along with UBS PaineWebber, UBS Global Asset Management and UBS Switzerland.
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Inquiries: Kris Kagel - 212-713-8703 or Denise Kazmier - 212-713-3090 of UBS Warburg