Update

Union Bank of Switzerland Securities goes global

Having started out with 14 NeXTs a year ago in the equity derivatives trading department (see "Bull Market," NeXTWORLD, Fall 1991), Union Bank of Switzerland (UBS) Securities has expanded its custom software and enlarged its operation to 70 machines networked between New York, London, Zurich, and Tokyo. All new hardware purchases have been NeXTstation Turbo Color slabs.

UBS's equity-derivatives software tracks fluctuations in key marketplaces so that traders can reduce the risk to an investor's portfolio. Five developers at UBS have now built software modules that perform risk analysis, option trading, and exotic-option modeling.

"This enables us to perform over-the-counter option trades for customers at the best possible price and leaves enough room for our margin," says Hadar Pedhazur, vice-president of equity technology.

UBS is also using Fame, a time-series database analytical tool developed by Citibank, to help with historical data analysis.