It’s the past, present and future as far as the agenda for this week’s In the FICC of It podcast is concerned as Colin Lambert and Galen Stops take a look at the chaos in the UK surrounding Brexit, digital assets, and the e-revolution that hit FX 20 years ago.

Stops is surprised by the lack of volatility in sterling given the ups and downs in Westminster, although Lambert feels mean reversion and an eagerness to take a profit – any profit – is playing its part. The real question he thinks, is how far sterling moves if a reversal of Brexit suddenly becomes a possibility?

Our two podcasters find to find grounds for agreement and dissent on the subject of digital assets – Lambert remains of the opinion that it is not about the trading assets but rather what the infrastructure can bring, while Stops still thinks there are trading opportunities to be had. Lambert also feels that we already live in a digital world as he asks the question, ‘when was the last time you used cash to pay for something in the ‘tap and go’ world?

The podcast closes out with a look at algos and a discussion over something that is intriguing Stops. How is it, he wonders, we live in a world where FX volumes have more than quadrupled but the number of major LPs in the market has be quartered?