Yes folks, algo boxes are coming to a bar near you next week
Well, if you work in London that is
Following on from the Exchange Bar & Grill in New York and Bar Dow Jones in Barcelona today's Evening Standard just out with a story about a bar opening up in Gresham Street ( ah, the memories come flooding back. Well partly at least!) that will use algos to determine the price of your drinks
The more popular a tipple the higher the price goes and vice versa.
Reserve Bar Stock Exchange opens next Thursday and will operate a 'beer market', a 'spirits market' and an 'alternative market', with big screens and a ticker showing the current prices of drinks. There will also be an app which allows at-table ordering, ensuring the price hasn't changed by the time you get served.
Like in real stock exchange offices in times gone by, bells will be rung and sirens sounded to signal a crash, but in this case it's a good thing - it means cheap drinks.
I'm getting too old for all this new drinking lark. I really must get that bid in quicker
"Buying the right things at the right time will mean you can get drinks for as little as half the price they'd usually sell for," says owner Alan Grant. "There will be some very good deals to be had, and this is the only place in London where you can - almost - control the prices."
We used to go to the pub as a blessed relief from quoting/market-making all day but I can see today's young turks wanting a big part of this even though drinking the cheapest drinks all night will produce one helluva cocktail in your stomach!
Oh and if the owners are reading this then yes thanks, I will take your kind offer of free drinks for the free ad!
It's been a landmark week for ForexLive with the start of our webinar programmes and things are only going to get better.
Have a great week-end one and all and thanks again for all your support
