Despite The Pitfalls, Banks Stress Benefits Of Global Options Books
BANKS
In the currency options market these days, it seems that any bank that wants to be a serious player is convinced it must go global. The global options book--where positions are passed among centers in the three major time zones--has become the flavor of the month.
Chase Manhattan Bank, with the help of partner Susquehanna Investment Group, completed conversion of its option operation to a global book in August. Credit Suisse, under global options chief Mark Galant, and affiliate Credit Suisse
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