Enda Homan is going to pull an all-nighter - and he can hardly wait.
Bloomberg News reports that the senior foreign-exchange trader at Allied Irish Banks in Dublin will be glued to his screens through dawn as U.K. voters decide whether to stay in the European Union. It promises to be a record-setting evening, whether in terms of trading volatility or in gallons of coffee consumed.
"It is a unique opportunity for traders, probably not seen since 1992 Black Wednesday,” he said, referring to the September day when the U.K. government withdrew the pound from a European exchange-rate system. Sustenance will probably consist of Chinese noodles from the local deli, and “I will also make sure that there is plenty of freshly brewed coffee to get us through the quiet bits while awaiting the results.”
Across Europe, traders and their employers are making preparations for a big night. JPMorgan has booked hotel rooms near its Canary Wharf offices, while Barclays is bringing in sleeping bags and sending some employees home today so they can be fresh later on. Other banks are offering bunk beds, sushi and pizza. Everybody has coffee on the menu.
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