What was it like Trading Black Wednesday in 1992?
In this series, “Tales from the Trading Desk” long time FX trader, stock/futures/floor broker, Dick Mathews breaks down his early career and discusses his switch into the futures market and the characters in the “open outcry” pits! In this episode, he is joined by ex NatWest cable (GBP) trader Johnny Ramkin. They reminisce over days gone by in the City, how the markets have changed and exchange memories over the UK’s flirtation with the ERM. The brutal market action of Black Wednesday 16th September 1992 is now in market folklore, and it’s fascinating to hear about the day when interest moved by 5% from Johnny and Dick, who were both at the epicenter of the storm.