As another week draws to an end, it’s always interesting to look back at some of the stories written in the press. As editors, we don't only write, we read as well, both for pleasure and to stay informed.

Like everyone, we always love a good story and Panama Papers aside, what has been more attention-grabbing lately than all the coverage surrounding  Brexit  Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minister Boris Johnson was elected Prime Minister the following month, who was well-known as a headstrong Brexit supporter. While the United Kingdom was predicted to leave exit the EU by October 31st, 2019, the U.K. Parliament sought out a deadline extension that delayed voting on the new deal. Following Boris Johnson’s reelection, Brexit occurred on January 31st, 2020 at 11 pm Greenwich Mean Time. Brexit Creating Ongoing Issues in with EuropeWhile the United Kingdom is in a transition period following its departure from the EU, the U.K. is negotiating its complete trade relationship with the EU, which is the United Kingdom’s largest trade partner. Terms of this trade agreement must be met by January 1st, 2021.Should terms of this trade agreement take longer than the projected resolution date of January 1st, 2021 then the U.K. must acquire an extension no later than June 1st, 2020. Failure to do so will result in the U.K. is subject to tariff and host rule changes exercised by the E.U. This situation is referred to as the “no-deal” Brexit and should this occur the consequences could result in a significant fallout of the U.K. economy. For the past few years, many banks and lenders operating previously in the UK had been given passporting rights to the European continent. The lingering uncertainty caused by Brexit resulted in many of these lenders relocating their European headquarters within continental Europe. Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minister Boris Johnson was elected Prime Minister the following month, who was well-known as a headstrong Brexit supporter. While the United Kingdom was predicted to leave exit the EU by October 31st, 2019, the U.K. Parliament sought out a deadline extension that delayed voting on the new deal. Following Boris Johnson’s reelection, Brexit occurred on January 31st, 2020 at 11 pm Greenwich Mean Time. Brexit Creating Ongoing Issues in with EuropeWhile the United Kingdom is in a transition period following its departure from the EU, the U.K. is negotiating its complete trade relationship with the EU, which is the United Kingdom’s largest trade partner. Terms of this trade agreement must be met by January 1st, 2021.Should terms of this trade agreement take longer than the projected resolution date of January 1st, 2021 then the U.K. must acquire an extension no later than June 1st, 2020. Failure to do so will result in the U.K. is subject to tariff and host rule changes exercised by the E.U. This situation is referred to as the “no-deal” Brexit and should this occur the consequences could result in a significant fallout of the U.K. economy. For the past few years, many banks and lenders operating previously in the UK had been given passporting rights to the European continent. The lingering uncertainty caused by Brexit resulted in many of these lenders relocating their European headquarters within continental Europe. Read this Term?

The clock ticks away, and as we approach the long-awaited referendum, the question that remains on everyone’s lips is, will Britain leave the EU?

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For the last few weeks, the Finance Magnates editors have been sharing their reading recommendations. This week, we have decided to focus our thoughts and attention to articles we have read relating to Brexit that caught our eye.

A controversial topic, perhaps, but regardless of what our personal opinions may be, the following articles have been chosen by our editors for reasons they themselves will describe.

Should I Stay Or Should I Go?

An article that caught my eye this week was a blog recently written by Currency  Cloud  Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing concepts performing run time series analysis (or trend analysis), and execute trades in real-time.Advantages of Cloud Computing in TradingAn advantage that stems from cloud computing would be that entities don’t need to construct a data center infrastructure themselves.Instead, entities can conduct trials and perform refinements, and should no solutions pan out then the cloud may be shut down while the payment terminated at the same time. This methodology of renting virtual space and time in cloud tends to be far more appealing than the costs, time, and resources required with constructing hardware and software infrastructures.These also happen to be the exact concept used in SaaS with trading related software.While executing trades via the cloud is an important capability to keep intact, most retail traders are drawn to the cloud for the research, backtesting, and analytics advantages that stem from using the cloud. In forex, traders that use Expert Advisors (EAs) and automated trading software are uploading their solutions onto a broker’s cloud account. The cloud is an ecosystem for multiple industries, sectors, and niches. Its versatility has not been peaked while in trading many retail traders are transitioning to cloud computing as a means to reduce expenditures, optimize efficiency, and maximize available resources. The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing concepts performing run time series analysis (or trend analysis), and execute trades in real-time.Advantages of Cloud Computing in TradingAn advantage that stems from cloud computing would be that entities don’t need to construct a data center infrastructure themselves.Instead, entities can conduct trials and perform refinements, and should no solutions pan out then the cloud may be shut down while the payment terminated at the same time. This methodology of renting virtual space and time in cloud tends to be far more appealing than the costs, time, and resources required with constructing hardware and software infrastructures.These also happen to be the exact concept used in SaaS with trading related software.While executing trades via the cloud is an important capability to keep intact, most retail traders are drawn to the cloud for the research, backtesting, and analytics advantages that stem from using the cloud. In forex, traders that use Expert Advisors (EAs) and automated trading software are uploading their solutions onto a broker’s cloud account. The cloud is an ecosystem for multiple industries, sectors, and niches. Its versatility has not been peaked while in trading many retail traders are transitioning to cloud computing as a means to reduce expenditures, optimize efficiency, and maximize available resources. Read this Term’s CEO, Mike Laven, entitled “Brexit: Should I Stay Or Should I Go?” Quite apt, I thought having read it, as well as being a fun, informative read too. I think Mike raised a good point in favour of staying in, which is summed up in this extract:

“Last week, I was at a financial conference in Switzerland with mainly continental FinTech companies. When I brought up Brexit — it is the elephant in the room after all — what was really surprising was how important British integration was to all the continental FinTech companies. They need unimpeded access to the UK market, talent pool, service industries, and capital base. The biggest arguments against Brexit came from the Continent.”

Coincidentally, a topic covered by Finance Magnates on the UK paytech sector earlier this week revealed that a recently-conducted EPA report found that nearly a third of UK fintech firms may wish to leave the UK as uncertainties have arisen over a potential Brexit.

Mike went on to say: “To me the greatest threat is uncertainty in the macro-economic environment.” The blog raised some thought-provoking points and, as well as being a good read, should also appeal to any Clash fans out there!

A Twist Of Drama

Recently I read an article entitled “Senior Tories Accused Of Using WhatsApp To Avoid Brexit Paper Trail” that I would recommend as a light story, giving Brexit a drama-comedy twist.

I only hope it will not be used by LIBOR traders at their desks! It reminded me how important a subject Brexit is for the British people and especially for the political elite.

It is important to such a degree that it forces one side of the debate to engage in conspiracies, while the other is creating conspiracy theories. It all sounds like a James Bond movie…and everything is happening in the interest of the average British taxpayer.

A Little Artistry

One of my favourite reads this week was “The Artist Who Wants to Make the E.U. Sexy—And Defeat Brexit”. Taking a more unorthodox approach towards the subject of Brexit, an artist is focusing on its geopolitical implications for both the E.U. and the U.K.

This viewpoint is rarely mentioned by traders and it’s definitely worth thinking about before going to the polls. Highlighting the era of peace and solidarity between citizens of the European Union regardless of their nationality, Wolfgang Tillmans is joining the campaign to keep the United Kingdom in.

The political union and the single regulatory framework under which financial firms are operating are the key aspects to the industry, however a broader look at Brexit underlines the prospective social costs that could arise from it.

Ice-Cream Magic

On a lighter note, Vote Leave, the official campaign to get Britain out of the EU, began its national tour in Cornwall, UK on Wednesday this week, ahead of the 23rd June referendum. Boris Johnson sampled ice cream in a Cornish harbour town and posed for photos while promoting his case in favour of Brexit with aplomb:

“This is a once-in-a-lifetime, unrepeatable opportunity for us to take back control of our country,” he told the small crowd of supporters that had gathered. “It’s absolutely crazy that the EU is telling us how powerful our vacuum cleaners should be and what shape our bananas should be.”

Indeed! You have to hand it to him - he tells it as it is and for this reason, it may come as no surprise that the former London mayor is regarded as a favourite to succeed David Cameron as prime minister, whether or not you support Brexit.

On behalf of the contributing editors at Finance Magnates, we hope our reading suggestions were worthy of your attention. Feel free to share your views in the comment section and any recommendations of your own.

Check out our previous posts here:

Virtual Reality and the Dark Side of Shaming

Insider Trading and the Dude Driving Istanbul Mad

On Valley Life and Opening Up AI