Currency derivatives - Modern great: UBS

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The recent success of UBS in the currency markets stems from a single root - its exploitation of electronic trading technology.

The story starts in the mid-1990s, when Swiss Bank Corporation (SBC) was riding high in the currency markets. The bank had taken over O'Connor, a Chicago-based options boutique, in 1992, and used the firm's technology and trading expertise to invigorate its currency options trading business. SBC consistently swept the board for currency options in Risk's derivatives