New skyscraper in UK to beam financial data across Europe at the speed of light

Plans to build a tower taller than The Shard, Europe’s highest building, are being considered for the UK port of Dover.

But it would not be a skyscraper – instead the 320m structure would be a relay to beam financial data from the City of London across Europe at the speed of light.

The aim is to boost “high-frequency trading”, the controversial technology used by large investment banks and hedge funds to buy and sell assets instantly.

The minimum height of the tower would need to be 320m above ground level to have unobstructed access to any point in Europe, because of the curvature of the Earth.

Canadian telecoms firm Vigilant Global has submitted plans for the “Richborough Mast”, which will stand at least 10m taller than The Shard (pictured) and will enable City traders to sell shares within one-millionth of a second to Europe’s markets and stock exchanges.

Vigilant has held a public consultation and meetings with local residents on the proposal for the tower, which must undergo an environment impact assessment by Dover Town Council.

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