And so, after a long and tortuous journey through December – at a time when the dollar has risen something like 5% in just a couple of weeks (and a lot of traders missed the move because they pulled stumps until January) – we come to the final Accolade of the year; my 2016 Person of the Year.
Last year I focused on the reform process because, undoubtedly and as turned out, 2016 was very much that type of year. This year, with a nod to the ongoing reform process around the impending launch of the ‘final’ Global Code of Conduct in May, I thought this award should very much reflect the business side of the industry – for the success, or otherwise, of FX will be driven by firms, both collectively and individually.
It is time for the final Irrational of 2017, my Person of the Year. Previous winners of this Accolade have been pretty easy to select, but 2017 was a little harder – because let’s be honest, when everyone is obsessed with MiFID II it’s going to be hard to stand out isn't it? Had someone managed to extract FX from this ridiculous regulation (in FX terms I should stress, because in the spirit of the season I don't give two stuffs about equities or fixed income) then they would have been a standout winner.
And so, with the usual mixture of celebration and regret, we arrive at the final Accolade of 2018 – my FX Person of the Year.
Obviously last year was a little controversial as I awarded it to an anonymous person (although I think I know the identity of the person concerned) and, you will be pleased to hear, this year is little different.
There was a reasonable field this year, although perhaps not quite up to the standards of previous years.