Britain’s Political Struggles Overload Financial Traders
As Britain tries to withdraw from the European Union, the move is presenting complex problems for some in the financial industry.
Computer trading systems in the international currency markets are struggling to make sense of all the hourly information. This overload, some say, is making it more costly and risky to trade the British currency, the pound.
Prime Minister Theresa May has failed three times to get a deal approved by the British parliament to leave the EU.
Last week, she sent a letter to the European Council. She asked for a delay of Britain's proposed withdrawal. European Council President Donald Tusk reacted by suggesting a delay of one year.
No one knows when, how or if Britain will truly complete "Brexit," the British exit from the group.
Britain's government is divided over the issue, and the number of people who can influence events has grown very large. This has caused problems for computers with "reading algorithms," or algos. These algos are designed to consider the most recent words of important people before making investment decisions.
Usually computers evaluate people's words by simply deciding how important they are, or how many times they have been spoken. Neil Jones is the head of currency sales at Mizuho, a Japanese bank in London. Brexit has so many people making important decisions and then talking about them that the computers are unable to keep up, he said.
News reading algos are a part of a revolution in investment banking and money management. Machines have replaced the humans who once decided what to buy and what to sell. Costs are lower and decisions are made more quickly by the computers.
At first, reading algos evaluated economic information or central bank policy. But they have grown more intelligent. For example, they can evaluate information that comes from Twitter in a matter of seconds and decide whether or not to invest in a currency.
The problem for the computers is that Brexit is simply creating too much information. Reuters has published up to 400 news stories on Brexit each day in recent weeks. Before Brexit, there were about 15 British political stories.
Bloomberg, another news group, has published up to 1000 stories a day, their spokesman said.
All of this proves that computers, which are logical, may never understand human beings, especially when they are foolish.
I'm John Russell.
1.currency markets 货币市场
He warned against excess volatility in currency markets.
2.central bank 央行
It did not take long for the central bank to soothe investor's fears.
3.keep up 跟上；赶上
She did not bother to keep up with the news.
4.At first 起先；首先
At first I felt very resentful and angry about losing my job.
5.For example, they can evaluate information that comes from Twitter in a matter of seconds and decide whether or not to invest in a currency.
in a matter of 大约在...之内
Food shipments could begin in a matter of weeks.
The police arrived in a matter of minutes.
6.Computer trading systems in the international currency markets are struggling to make sense of all the hourly information.
make sense of 弄清楚
I can't make sense of this poem, but perhaps I will if I read it again.
We read it through, but could not make sense of it.
国际货币市场的计算机交易系统正在努力理清频繁更新的所有信息 。一些人说，这种超负荷运转导致英镑交易成本更高，风险更大 。
英国首相特蕾莎·梅（Theresa May）的脱欧协议被英国议会否决了三次 。
上周，她致信欧洲理事会要求推迟英国提出的脱欧计划 。欧洲理事会主席唐纳德·图斯克（Donald Tusk）对此作出回应，建议推迟一年 。
英国政府在脱欧问题上存在分歧，并且能够影响事态发展的人越来越多 。这给使用“阅读算法”(algos)的计算机带来了问题 。这些算法旨在分析一些重要人物最近的口风，然后再作出投资决定 。
通常，计算机评估人类语言的方式是确定这些语言的重要性，或是这些语言被提及的次数 。尼尔·琼斯（Neil Jones）是位于伦敦的日本瑞穗银行（Mizuho）货币销售主管 。他说：“英国脱欧导致大批人做出重要决定，然后又谈论这些决定，以至于计算机无法跟上 。”
新闻阅读算法是投资银行和资金管理革命的一部分 。机器已经取代了曾经决定买什么和卖什么的人类 。计算机的成本更低且决策更快 。
起先，“阅读算法”评估经济信息或央行政策 。但这些算法逐渐智能化 。例如，他们可以在几秒钟内评估来自Twitter的信息，并决定是否投资某种货币 。
计算机面临的问题在于，英国脱欧制造出过多的信息 。近几周，路透社每天发表多达400篇关于英国脱欧的新闻报道 。而在脱欧之前，该社每天大约只有15篇英国政治新闻报道 。