View from the trading floor: how election night unfolded in the City

9.30pm: The trading floor at IG is swamped with young lads joshing each other about how they wish they’d spent less time in the gym this afternoon and more time studying the possible election outcomes.

10pm: They needn’t have worried, the exit poll shows a resounding victory for Prime Minister Boris Johnson and the pound shoots 2% higher from $1.316 to $1.344 - the biggest rise in 18 months. Volumes are high and traders are busy filling order books. The City has the certainty it was after.

Home Secretary Priti Patel is first on the box and is greeted with howls of laughter as she says “this is just a prediction and not an early result”. Looks like the ERG are biggest losers on the night as Johnson is expected to dump them and follow a moderate Brexit path.

11:30pm: The first major result is in and Blyth Valley has turned Tory. The seat has been Labour since 1950. It’s a huge shock and sets the tone for the rest of the night.

12:45am:Trading volumes have come off on the FX side. Volumes were in the ten of thousands but now just down to the hundreds. An incoming email from an established fund manager to IG client manager Luke Moore reads: “I’ve seen enough now, I’m calling it a night.”

Traders say their biggest concern over past two weeks among clients has been Corbyn’s renationalisation plans. Many have sold off their positions amid fears about how they would recoup their money.

01:00am: Betfair hasn't wasted any time and odds for Corbyn's replacement have been posted online. Keir Starmer, Rebecca Long-Bailey and Emily Thornberry the frontrunners. But fiery Mancunian Angela Rayner is the City boys' choice.

01:30am: Gasps as Workington goes Tory. Workington was the number one target seat for the Tories and Workington man - supposedly a northern, working class, white middle aged rugby league lover - came to embody the Tories entire election strategy. Pound gains against the dollar.

01:50am: Results coming thick and fast and the pound hits $1.350 after Vale of Clwyd goes Tory and Labour’s red wall continues to crumble. Boris stood in Clywd back in 1997 and lost by 13,000 votes.

01:57am: Finally a major win for Labour with Putney turning red. At the same time posho Zac Goldsmith loses Richmond to the Lib Dems.