Financial institutions don't use the internet for trading transactions Zero. They rent their service from dedicated cable companies. That includes private transatlantic cables with guaranteed bandwidth and low latency levels often costing millions per year. They don't want Little Jonnie's Pr0nhub downloads delaying multimillion dollar currency or share transactions.
London is a major financial hub because of it's history and established infrastructure. It remains a major hub precisely because we have that shed in Cornwall that provides quicker transatlantic links to the world's two largest stock exchanges (NYSE & NASDAC). The proposed merger (takeover) of LSE by Deutsche Börse (vetoed by EU regulators) recognised that a substantial presence would have to remain in London to support High Frequency Trading.
And if that "Brexit rabble" comment was aimed at me, I can assure you that I did not vote for Brexit. I spent a large part of the last 20yrs working at a pan-European (non-EU) organisation and have seen firsthand the success of European cooperation.
Last edited by: Kevin on Sun 8 Sep 19 at 00:38
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