New Year and new beginnings

The FX industry has seen rapid change in the brief time that I have covered it. The move online that started in the 1990s has fully bedded in, and the banks and businesses that put the investment in have reaped the dividends. However, the changes keep on coming and it is the amount of investment in new technologies such as algorithmic trading being put in now that will determine who is on top another two years down the line.

This year sees the launch of FXMarketSpace, the Reuters CME joint venture that those involved hope will present a real challenge to the EBS hegemony in euro/dollar online spot broking. It will be interesting to see if this turns into a genuine turf war or if, as the new kids on the block claim, the seemingly unstoppable growth in flows will enable both entities to flourish.

The New Year should also see an interesting move towards a focus on emerging markets. As margin on the majors gets squeezed to nothing, those like Icap and Reuters who have put resources into building resources in this area should continue to flourish.

But enough of the crystal-ball gazing. I would like to take this opportunity to thank those who have helped to make my time on the publication so rewarding. The contacts at banks, platforms and vendors who spared their valuable time to talk to me and the team have made the subject a rich, varied and nuanced one to cover.

The talented colleagues I have had the pleasure to work with have also made the job an enriching experience. Jon Lloyd, a sub-editing legend, made sure that (almost) everything that went on a page made sense and delivered some headlines of supreme humour and originality. Rahul Jhaveri, soon to make his fortune as a diamond trader, Rob Shepherd, a newshound now covering the TV industry and Chi-Chi Zhang, who has brought you strong stories that could not be found elsewhere.

I am leaving you in safe hands. Steve Hillyard has filled Jon Lloyd's sub-editing boots with ease. Saima Farooqi, who takes over as editor, knows the market inside-out. She will, I'm sure, do a great job of continuing FX Week's tradition of delivering the most important industry news when you need it.

I wish you a prosperous 2007.