3 Net trading income
audited information

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in CHF thousands

2009

2008

+/– %

*

The LLB Group uses interest rate swaps for trading and hedging purposes. If the interest rate swaps do not fulfil the approval criteria according to IAS 39 in order to be booked as hedging transactions, they are treated as interest rate swaps for trading purposes.

Securities

629

–408

–254.2

Foreign exchange trading

24'869

26'179

–5.0

Foreign note trading

2'945

2'404

22.5

Precious metals trading

2'799

2'954

–5.2

Interest rate instruments *

–5'101

5'164

–198.8

Total net trading income

26'141

36'293

–28.0