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But what about the spot brokers themselves? A few drifted to banks where they became traders or, more commonly, salesmen. Some simply retired or found work outside finance. Anecdotally, a number of them became London black-cab drivers. In around 2003 I met one who had done just that. I struck up a conversation with him as he took me home from the office; his name was Mickey. ‘I used to be a spot broker,’ he told me after he found out where I worked, ‘it was great.’ We reminisced for a while about the way the FX market had been, then, as we approached my street, he said, a little sadly, ‘But it had to end, we couldn’t beat the computers – they ate us all alive.’ We arrived outside my house where I got out and paid him. As he began to drive off, he slowed down and shouted back at me, ‘They ate us alive – and they’ll do it to everyone!’ With that, he turned the corner and drove out of sight.

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