The go-ahead for a new body for the Corporation of London's markets has been rubber stamped earlier this month.
A single markets committee will now be created and will govern the corporation's three wholesale markets from January 1, 2001.
A spokesperson for the corporation said the move was designed to create cost efficiencies and would not interfere with the distinct identity of each market.
One of the three chairmen of the fish, meat or fresh produce market committees will head the new organisation – but deciding which one is likely to be contentious.
Nominated representatives of the corporation's 25 wards will form the remainder of the body.
The chairman will stand for a three-year term, on condition of an annual vote of renewal. Election will take place at the first meeting of the new committee in the new year.
New Spitalfields is unlikely to be a primary concern in terms of troubleshooting: the market has a reputation for operating smoothly and its 10 years have remained free of the same difficulties between tenants and landlord that have troubled Smithfield.
At the market committee's 10th anniversary dinner on Tuesday, outgoing chairman Wilfred Archibald paid tribute to the hard work of everyone involved in the running of New Spitalfields, saying it has 'a reputation for running itself with no problems.'
