| Under the new management, the TCM achieved
number of milestones. It expedited the launch of Pakistan's
first derivative money market product - the FRA (forward rate
agreement) in August 2003, and has further closed several similar
transactions thereafter. UBL was also the first bank to do a
plain-vanilla Interest Rate Swap. It acquired the status of
Authorized Derivative Dealer (ADD) - the only domestic bank
with this status. It started trading currency option in 2005
and now is a clear market leader. It became the only bank from
Pakistan with ISDA primary membership.
UBL TCM is a market maker in both the domestic money market
as well as the foreign exchange market. Being one of 11 primary
dealers (PD), UBL has one of the largest and strongest balance
sheets amongst banks in Pakistan.
UBL was the first local bank to establish a Corporate Treasury
team in the Treasury dealing room. The Global Corporate Treasury
Business is responsible for sales of all structured and derivative
products for UBL. The bank's trade volumes and revenues have
grown significantly since the introduction of the Corporate
Treasury business.
Equities desk is responsible for managing the bank's trading,
badla and CFS portfolio. We aspire to eventually develop a
global equity trading activity for UBL. Structured Products
is responsible for developing and packaging plain vanilla
derivatives as well as more exotic customer specific products.
The Strategic Planning and Balance Sheet Management responsibilities
include: |
