City traders are using new technology to establish a piece of London's Square Mile financial centre in the heart of Southend.

Mariner Screen Traders, based in the High Street, was created by city employees who recently traded life in the big smoke for a more relaxed seaside town ambience.

Partner Andy Ennals, 37, said: "With the new internet-based system you can trade from anywhere - even from your own home.

"We find it much more pleasant working in Southend. We don't have to commute and we have a pleasant, uncluttered office with a sea view."

Mr Ennals, who lives in Hall Park Way, Rayleigh, previously worked at the London International Financial Futures Exchange - known to those in the business as "LIFFE" - in Canon Street, London.

The Southend company, based on the seventh floor of Mariner House, was set up two months ago after the LIFFE stock exchange became electronic.

The old system was permanently shut down last week, making the familiar trading floor scenes with frantic hand signals, waving papers and shouting traders a thing of the past.

Mr Ennals said: "We were one of the first companies to take advantage of this new technology and we are certain many others will follow as companies move out of the City.

"We keep our costs low operating from here, meaning our rates are competitive with London offices."

Traders can even work from home with the new system and are even able to access the stock exchange in London from lap-top computers when they are abroad.

Mr Ennals added: "The trading culture may have changed when the system went electronic but we still keep our old trading jackets hanging up on the wall to remind us how it used to be."

Mariner Screen Traders currently employs 14 people, with more jobs on the way.

Staff buy and sell currencies, including the Euro, and have facilities to trade with the FTSE.

Global Direct Dealing, a similar satellite trading office, has also opened in the High Street, Billericay.

On-line - money changes hands on the stock exchange from the new office building in Southend

Picture: ROBINWOOSEY

Converted for the new archive on 19 November 2001. Some images and formatting may have been lost in the conversion.