London-based banks plan to keep trading floors open even in the event of a formal lockdown of the British capital, betting that their frontline staff will be treated by authorities as"key workers".
Five global banks told Reuters they currently had no plans to disband trading and market-making teams working in London's two main financial districts of the 'Square Mile' and Canary Wharf as well as in suburban backup sites, although they were equipping traders to cope with a sudden change in circumstances.
"When were split, we took into account where they lived anyway, and where necessary we have put them up in hotels. There are just a handful working from home, but we can up that number if necessary and the regulator allows." The FCA on Tuesday did ease its position on trading from home but without giving much detail on concrete measures.
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Source: ChannelNewsAsia - 🏆 6. / 66 Read more »