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Consider fintech and the foundations on which this rapidly growing sector is built; London is the world's leading foreign exchange hub, handling $2.6 trillion per day, more than double that of New York City.
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Result: It's in for a huge foreign exchange hit.
London is the financial centre of the world, based on its banking hegemony, its role as the global hub for foreign exchange, and passporting rights – which allow international financial firms to operate across EU member countries.
The global foreign exchange market is worth more than $5tn a day, and London is the most important hub, accounting for about 40% of all foreign-exchange trading.
Another lies in foreign exchange.
London, New York, and Tokyo dominate foreign exchange trading.
David Steck, from Deutsche Bank, heads foreign exchange.
Foreign exchange rates hurt revenue by 2 percent.
Foreign exchange reserves will soar.
"Within three to six months' time we will be a fully integrated FX trading hub," he said, adding that Oanda's online "penetration, traction and velocity" will aid in the establishment of a new electronic marketplace for foreign exchange.
(FX is financial shorthand for "foreign exchange").
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