TheBramble
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I was very careful to qualify my specific target SB-er with "today's average SB punter". I’m guessing your (ex-) City lads represented a fairly small percentage of the overall client base and thus constitute “a very few”?when i was on an SB desk (albeit a specialist desk within a firm) my client list was made up almost entirely of current and ex market professionals - sophisticated guys who knew exactly what they were doing, trading big size (for a retail environment) and making big money - tax free.
obviously there are the £2 of ftse guys who punt for a bit of fun, but are they really looking to day trade euribor? no.