A responsive newsletter contributor sent before and after photos of a large UBS trading floor purge. You should see what the computers have done with this stat as well:
Goldman has already begun to automate currency trading, and has found consistently that four traders can be replaced by one computer engineer. Some 9,000 people, about one-third of Goldman’s staff, are computer engineers
There was confirmation of this from an ex UBS trading desk manager found in my Facebook group:
Brian, I fully agree with your post. As an ex-manager of Trading-desk for Ubs 15 years ago, the problem began when the computer came…
I just posted this video on how I will be removing the PUBLIC ACCESS from my Quant ELITE membership the next few days to weeks. This will be the last of my ‘highly valuable’ deals before I go premium in coming weeks for my new Analytics service. See my video here.