For the last six or seven months, China's efforts to create an international market for its currency in Hong Kong has generated huge excitement, particularly in the banking industry.

WSJ: The View From Hong Kong: Behind the Yuan Borrowings are Dollars

Leo Melamed, a Jewish immigrant from Poland, took control in 1969 and introduced currency futures and the International Monetary Market to the exchange.

FORBES: Up From the Pits

Beijing is undertaking a long, gradual campaign to establish the yuan as a more market-oriented, international currency.

WSJ: New Zealand, China in Talks on Convertibility of Currencies