Nobody in the world is spared from the COVID-19 pandemic, especially not from the measures it has taken. Not even the dealers. It is true that it is difficult to imagine a trader far from the trading floor, but many of them have had to adapt to the situation from home. To make things easier for traders, one of the world’s largest investment banks is considering making augmented reality headsets available to its employees.
Microsoft rushes to help the banks.
UBS is preparing to equip its London-based dealers with Microsoft HoloLens headsets. The bank relies on this technology to restore the experience of working in a crowded trading floor without leaving home. If there’s one place where social distancing is tough to enforce, it’s the trading floors. Yet the banks have tried desperately to get their employees back, to no avail. So we had to find an equivalent solution, and that’s where Microsoft and their HoloLens come in.
Beatriz Martin, Managing Director of UBS UK, said: “If people really can’t come into the office, can we create a virtual presence? We think we’re experimenting with the tools we have. “” UBS does not minimize the hassle of going in that direction and decides to hire a work team to “redefine the trading floor”. Originally, the bank had thought of installing screens in their dealers’ personal offices to send a constant video stream of colleagues to feel their presence while encouraging collaboration. HoloLens is not easy to install and is a great alternative.
Other institutions like JPMorgan Chase or Barclays are facing the same problems. Bloomberg reports that bank JPMorgan Chase was forced to fire all employees from its New York trading house after an employee tested positive for COVID-19.