The white collar fight club

American Chris Smith (black vest) dodges a jab

By CNN's Richard Quest

LONDON, England (CNN) -- After trading stocks all day, heavyweights from the City of London enter the ring to trade punches with their rivals from Wall Street.

The fighters say that white-collar boxing helps them relieve the stress of the day. And the annual event in London raises thousands of dollars for charity.

Forget the yield curve, this is a curve of a different kind -- a hook from the left and then from the right.

But the question is which hurts more -- getting bashed in the boxing ring or losing a bundle in the market?

VIDEO CNN's Richard Quest investigates the world of white-collar boxing: "The Real Fight Club"  Real  Windows  Quicktime

Wall Street money manager John Oden doesn't care, as long as it lands on the UK bond broker Lee Victory.

During the day, these two white-collar workers control billions of dollars. Boxing at night is a way of letting off steam.

Oden said: "I am disciplined and it helps my concentration in work and out of work."

Money manager John Oden says boxing helps his concentration

Victory added: "Pride at losing in the ring hurts more than losing in the market, I'm sorry to say."

Next for punishment, American Chris Smith, a dot.commer who sold out at the top. His millions don't stop him getting thumped.

Smith, a technology consultant, said: "The tension of boxing is ideal for the world of business where you have to beat each other.

"It's about keeping control. It requires you to be sharp, to be confident, to be assertive."