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Briefing
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- ORCA-Direct – UBS utilizing optimal routing control algorithm, ORCA-Direct, to help foreign exchange trading clients find and order best deals during volatile markets
- Deployment Status – First rolled out in May 2018 to limited clients, ORCA-Direct enabled foreign exchange business to double and made UBS become fastest growing algorithm-based broker in 2018
- How It Works – Combines machine learning analytics and synchronized order placement, allowing users to see best platforms, execution sequence, probability of trading and market impact of orders in real-time
- Advantages – Include more efficient trading and reduced costs both for clients and UBS
- Volatile Markets – Foreign exchange markets affected by socio-political uncertainty and volatility leading to flash crashes and shutdowns in many algorithmic trading systems
- HR Impact – UBS has cut back on trading teams relying more on automation, retrained 350 back office employees in automation software, and asked investment banking personnel to think of ideas to digitize company
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Accelerator
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Market Disruption
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Business Model and Practices
Business Model
and Practices
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Sector
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Financial Services, Information Technology
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Function
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Customer Experience and Service, Human Resources, Research and Development, Sales and Distribution Channels
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Organization
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UBS
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Source
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Original Publication Date
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May 14, 2019
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