Profit & Loss editor, Galen Stops, is in London right now and explains that Brexit seems to be the main topic dominating a lot of conversations. And unfortunately for those who might be sick of the subject, he explains that even if the UK leaves with or without a deal in the near-future, this is only the beginning of the Brexit discussion.

Meanwhile, Colin Lambert, managing editor of Profit & Loss, relates the dizzying highs and lows he experienced this week at a conference focused on benchmark reform. Regular readers will not be surprised to discover that Lambert has some thoughts of his own on this issue, and neither will they be shocked to find out that he thinks the regulators have got it wrong (again). This in turn leads on to a discussion about whether individuals at financial services firms have been unfairly singled out for alleged misbehaviour, when more senior figures in the management of these firms should actually be shouldering more of the blame.

Stops relates a couple of amusing comments and observations from former FX market participants that have now shifted into the crypto world, which leads Lambert to speculate on whether the fiat-BTC carry trade is going to be the next big thing.

The pair also discuss a recent report highlighting the growth of FX algo trading, noting that it contained some similar claims to another report published by the same company a couple of years previously.

And finally, Stops surprises Lambert with a quiz! Following the news that FXall has added a new liquidity provider to expand its offering of frontier currencies, Stops tests whether former FX dealer Lambert can guess some of these currencies from their codes.