RPT-Order! Order! Pound traders brush up on parliament as Brexit stakes mount [Reuters (UK)]
SVB Financial Group (SIVB)
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Source: Reuters
RPT-Order! Order! Pound traders brush up on parliament as Brexit stakes mount | Reuters 5 Min Read (Repeats story moved on Feb 13 for wider distribution; no changes to text) * Traders say parliament crucial for sterling * Banks arrange ex-MP briefings * Investors exploit tiny margins during votes * But some still wary of trading on politics By Tom Finn and Saqib Iqbal Ahmed LONDON/NEW YORK, Feb 13 (Reuters) - How would you get an 18-second jump on a big move in the pound? Bone up on your parliamentary protocol. As if Britain’s unwieldy departure from the Europe Union were not bewildering enough, Brexit has thrown up another conundrum for investors: parliament. Centuries-old and often idiosyncratic, the institution is asserting more control over Brexit negotiations. The result is wild swings in sterling during volatile Brexit votes. Trading off parliamentary debates sounds perilous. But as currency traders have discovered, a little knowledge of the protocols used by the 650 elected mem
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