Brexit's impact on contract market?

[FatLazyContractor]

in the next few months clever little gits like me will be walking into boardrooms with charts like the one I describe and explaining why moving to the EU will brake the capacity and latency of the trading systems and that there is nowhere near enough fibre running out the coast of the EU to other countries.

Could we give some of that fibre to sasguru and GB9? Their constipation is driving farts up into their brain

[BlasterBates]

Stated intention and actual intension are two different things though. I watched news night as well and the message that I could see was Frankfurt was smaller and cheaper and in the middle of Europe. I really cannot see why most of the European work wouldn't move there under a merger. It's simply too much of a temptation for a bank that is paying top dollar to be further away from the market they are trading on so some of that work would have always found its way back to the EU.

I don't doubt that there are banks starting to plan for the worst. But if the UK bites down on a Norway deal nothing has changed for the banks so why would they spend billions moving?

There are a little too many knee jerks at the moment and not enough facts.

So here is a fact for you to enjoy over a beer or coffee. Go and source a copy of the TeleGeogrphy Maps that Equinix periodically produce. It shows the world wide Fibre distribution together with lit capacity and consumed. The number of cables that fall out the bottom of England compared to the rest of Europe is staggering. Despite what the racist little twerps like Junker have to say about what he wants to do to england for leaving we are hard wired into the centre of the world. Go and look for yourself. Its taken most of my life for that infrastructure to be laid and it has cost a fortune.

in the next few months clever little gits like me will be walking into boardrooms with charts like the one I describe and explaining why moving to the EU will brake the capacity and latency of the trading systems and that there is nowhere near enough fibre running out the coast of the EU to other countries.

I actually know someone who works in at one of the IB's in Frankfurt who told me that the bank was waiting for the results of the referendum and planned to start moving immediately after the result if it was a leave not remain. So yes it's due to Brexit.

[MrMarkyMark]

FTFY

Let me try. The economy booms as China, India and the US rush to do trade deals with a superpower Britain. Sales of Spitfires and Austin Allegros soar as England wins the World Cup. Hot crumpets and warm beer are in fashion again as immigrants pile on planes to be deported. The NHS get millions of pounds a week extra. All contractors, even Suity, are on a 1000 pounds a day

[AtW]

Yes but they were going to join the exchanges. What exactly did you think would be the impact of that happening, given that banks already pay millions of pounds per square foot just to get near the same DC as the LSE market systems? Were would you logically start to look to place your trading IT if you had another exchange a thousand miles up the road that can now trade the same instruments? (just as a hint if your trading software sends the trade request to both exchanges at the same time the LSE will see the request and some clever bugger will already have arbitraged your trade request in Frankfurt before you make the trade.

This was before Brexit, firms will move now and rents for thise who stayed will go up, si they move also

[Bee]

Jobserve was bad now it's dead.

[bobspud]

I actually know someone who works in at one of the IB's in Frankfurt who told me that the bank was waiting for the results of the referendum and planned to start moving immediately after the result if it was a leave not remain. So yes it's due to Brexit.

Good for them. They will now have placed their traders at a good several seconds disadvantage to the ones that stay in London working until they actually know the facts. Two years of that sort of disadvantage is a huge financial penalty to take based on no information at all other than We voted out and we might still choose to pay to keep the single market ...

[CretinWatcher]

But if the UK bites down on a Norway deal nothing has changed for the banks so why would they spend billions moving?

I'll grant you that - but the problem is a Norway deal (free movement) will not be acceptable to to the whole of middle England so it ain't going to happen. Otherwise you'll have UKIP taking over everywhere and believe me if that happens the UK really will die as an economic entity.

[BlasterBates]

Good for them. They will now have placed their traders at a good several seconds disadvantage to the ones that stay in London working until they actually know the facts. Two years of that sort of disadvantage is a huge financial penalty to take based on no information at all other than We voted out and we might still choose to pay to keep the single market ...

Obviously they're moving operations that don't depend on being seconds away from the London stock exchange.

[bobspud]

I'll grant you that - but the problem is a Norway deal (free movement) will not be acceptable to to the whole of middle England so it ain't going to happen. Otherwise you'll have UKIP taking over everywhere and believe me if that happens the UK really will die as an economic entity.

No I think you will find most of middle England is fine open borders and by that dint, with keeping Scooter Scot out of this country and gainfully employed elsewhere Its the poor lied to bottom of the rung that are going to feel annoyed when they realise they took all the pain again and still got tucked up

[BlasterBates]

Checked jobserve.

1 C++ contract in the City

There were loads a few weeks ago.

The contract market in the city does seem to be somewhat quiet.