Computer Virus Hits UBS PaineWebber

UBS PaineWebber’s computer network was infected with a virus that has hindered brokers’ ability to execute trades and retrieve client data.

The firm said it was working to repair the problem and was investigating how the virus made its way into the internal browser-based system, blocking access to data and trade execution methods. The virus forced brokers to use back-up systems and phone trades to the NYSE.