3 Net trading income
in CHF thousands | 2024 | 2023 | +/- % |
Foreign exchange trading | 195’961 | 171’658 | 14.2 |
Foreign note trading | 365 | – 1’018 | |
Precious metals trading | 2’819 | 2’031 | 38.8 |
Interest rate instruments 1 | 710 | 500 | 41.9 |
Total net trading income | 199’854 | 173’171 | 15.4 |
1The LLB Group employs interest rate swaps to hedge interest rate risks. The interest rate swaps reported here do not fulfil the approval criteria for booking as hedging transactions in accordance with IAS 39 (see also note 14).