In the 2000s, UBS moved their trading floor out to its headquarters in Stamford, Connecticut. The trading floor housed more than 5,000 traders holding pride of place in their 700,000 square-foot building. Today the trading floor stands empty, abandoned as a result of automation of the trading arm of UBS’ business. In quantifying the rate of change, Goldman has found that today one computer engineer can replace four or five traders. Today one-third of Goldman’s staff are already computer engineers as they speed up automation internally.
