Editors letter

It is an ill wind that blows nobody any good, goes the proverb, and so it is with the problems besetting the financial system. Even as colossi like Lehman Brothers collapse and their surviving rivals seek succour from the taxpayer, others see opportunity in the turmoil. Two groups in particular are positioned well to benefit, and we consider them both in the November issue of Credit: distressed debt investors and technology vendors.

The entry of the former into a market is often seen as a sign that things are bottoming out, and indeed hopes are widespread that this portion of the investor base will be a serious provider of liquidity in the months to come. This month we speak to a selection of funds, most of which have registered strong performance throughout the worst of the crisis.

Credit has a long history of covering technological innovations in our market and these have never been more crucial to its successful operation than now. Turn to page 39 for our survey of the best product releases and updates from the past 12 months. We intend in the months to come to bring you enhanced coverage of the many firms working to provide front-line market participants with operational support. We recognise their crucial role in today's testing market and are committed to keeping all our readers informed about how they can benefit.

- Matthew Attwood.