Washington Boulevard at Interstate 95 is Connecticut’s version of Wall Street at Broad.
This is where UBS, aka the Union Bank of Switzerland, sits on one side of the street, a short walk from the Stamford train station into Manhattan. On the other side is RBS, aka the Royal Bank of Scotland.
The trading capital of Connecticut is now all up in arms, it seems, because UBS is talking about moving out.
UBS is Stamford’s biggest private employer and its 700,000-square-foot building probably its most recognizable.
But it wouldn’t be UBS’ first move to take operations out of Stamford. Last year, UBS moved its equities electronic trading infrastructure and alternative trading system, UBS ATS, to a Savvis data center in Weehawken, N.J.
That move was to allow UBS's direct market access and algorithmic trading business to connect to a wealth of additional execution venues and market data sources. The BATS Y and X exchanges are there, as is (or was) NYSE Arca.
But there is some question – on the UBS side of the street – if it's trading floor is even the largest in Stamford, much less the world.
The RBS trading floor, when constructed, was publicly measured at 100,000 square feet.
But one UBS executive standing on a Metro North train platform on the way into work into Stamford said the RBS floor is believed to be slightly larger.
If it is in fact, 104,000 square feet in total size, then it would be larger than the famed UBS floor.
But even if RBS' is the largest in Stamford. That would not necessarily make it the largest in the world. At least not according to … the Royal Bank of Scotland.
RBS says Stamford is only its second largest trading center.
Not its biggest.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access