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jimnotgymyesterday at 5:01 PM1 replyview on HN

You would think so, wouldn't you? Then why is the FX department at my bank based in London? As a mid market client they occasionally used to send one of them out to see me. They told me all about their office and team in London...sat in front of screens. Their system aggregated the banks position onto the screen of the master trader for each currency, sat at a screen in the next office. What utter waste


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tim333yesterday at 11:00 PM

FX departments are in London because that's where the FX traders want to be. There's no government department telling them to be in London. It's kind of how free markets work.