Risk.net

UBS’s online energy trading in question

The future of UBS Warburg Energy’s online energy trading service UBSWenergy.com was uncertain, as the company took the trading website offline on Tuesday December 10 and prepared to lay off 290 of the Swiss bank’s 380 Houston-based energy employees.

90 employees will be offered positions at the bank’s 3,000-strong Stamford, Connecticut trading floor, as UBS consolidates energy operations into its other trading businesses.

UBS spokeswoman Jennifer Walker says the online platform will be unavailabl