UBS AG (USA) (NYSE:UBS) Declares Singapore Traders Dismissed for Serious Misconduct

Stocks of the DayUBS AG (USA) (NYSE:UBS), filed a case for illegal fire by two former traders in Singapore, declared they were dismissed for grave bad behavior and won a proposal to close documents in the cases.

The bank stated in a court filing previous month that precipitate revelation of the bank’s investigation into the ablaze traders would basket the bank’s ongoing investigate into the matter, plus the review passed out worldwide by regulators looking into the manipulation of rate fixing. Later court documents were sealed following a closed trial at Singapore’s High Court today.

UBS plans to protect itself alongside the court cases, the Zurich-based bank declared in its March 22 applications to close the files in the court cases. UBS refused to comment in an e-mailed statement today.

According to the traders’ lawsuits, the Feb. 7 dismissals of the two traders were to conspiracy UBS’s position in the rising scandal associated to suspected fitting of rates of non-deliverable forwards. A non-deliverable forward is a derived traders utilize to speculate on the movement of currencies that are matter to family foreign exchange constraints.

Coming to the stock performance in last Session UBS AG (USA) (NYSE:UBS) in last trading session end up at $15.22 by falling -1.10% with traded volume of 1.58 million shares which is down the average volume of 3.73 million shares.

The stock price saw week’s volatility of 1.69% and month’s volatility is 1.65%, while the stock price of the company is moving down from its 20 days moving average with -3.06% and isolated negatively  from 50 days moving average with -7.19%.

Looking at Analytic Ratios; the price to sales ratio of UBS in past twelve months was calculated as 3.46 and price to cash ratio as 0.36. Company return on equity ratio is recorded as -5.32% and its return on assets is -0.17%.

UBS belongs to Financial sector. Yesterday Dow Jones U.S. Financial Index (SFN) was at 336.80 with -0.51% change.

 

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