Britain’s Political Struggles Overload Financial Traders
英国政治斗争让金融交易员苦不堪言
As Britain tries to withdraw from the European Union, the move is presenting complex problems for some in the financial industry.
在英国试图退出欧盟之际,此举给金融业的一些人员带来了复杂的问题。
Computer trading systems in the international currency markets are struggling to make sense of all the hourly information. This overload, some say, is making it more costly and risky to trade the British currency, the pound.
Prime Minister Theresa May has failed three times to get a deal approved by the British parliament to leave the EU.
英国首相特蕾莎·梅(Theresa May)的脱欧协议被英国议会否决了三次。
Last week, she sent a letter to the European Council. She asked for a delay of Britain's proposed withdrawal. European Council President Donald Tusk reacted by suggesting a delay of one year.
No one knows when, how or if Britain will truly complete "Brexit," the British exit from the group.
没有人知道英国何时、如何或是否会真正完成“脱欧”,即英国退出欧盟。
Britain's government is divided over the issue, and the number of people who can influence events has grown very large. This has caused problems for computers with "reading algorithms," or algos. These algos are designed to consider the most recent words of important people before making investment decisions.
Usually computers evaluate people's words by simply deciding how important they are, or how many times they have been spoken. Neil Jones is the head of currency sales at Mizuho, a Japanese bank in London. Brexit has so many people making important decisions and then talking about them that the computers are unable to keep up, he said.
News reading algos are a part of a revolution in investment banking and money management. Machines have replaced the humans who once decided what to buy and what to sell. Costs are lower and decisions are made more quickly by the computers.
At first, reading algos evaluated economic information or central bank policy. But they have grown more intelligent. For example, they can evaluate information that comes from Twitter in a matter of seconds and decide whether or not to invest in a currency.
The problem for the computers is that Brexit is simply creating too much information. Reuters has published up to 400 news stories on Brexit each day in recent weeks. Before Brexit, there were about 15 British political stories.