There is some real good news if you are a forex buff and investor?

Reuters Group and the Chicago Mercantile Exchange (CME) are launching a 50-50 joint venture global foreign exchange market place called FXMarketSpace.

Reuters and CME each will contribute capital of up to $45 million (24 million pounds) to fund the venture through to profitability, which they expect to achieve in 2008. Each expects their respective shares of start-up losses to be $20-25 million, with about $5 million in 2006.

Well, all the best FXMarketSpace!