Finance Magnates is proud to announce the categories for this year's London Summit Awards.
What awards are we talking about? Find out more here.
Celebrating the industry's best and brightest, the awards reflect the trends and shifts that FX has gone through this year. To reflect this, we have introduced a couple of new categories, while omitting others. This is what the new list looks like:
Best Liquidity provider
As the structure of liquidity in FX is changing, this year's nominees will include top-tier banks as well as hedge funds and electronic non-bank liquidity providers, which are growing to be increasingly significant participants in the market.
Best connectivity provider
An Award for technology providers in retail FX, allowing access to liquidity as well as risk management, routing aggregation and bridge solutions for platforms.
Best ECN/Execution venue
At the 2016 London Summit attendees will award not only the brokers and their providers, but also the network that connects them to the market and facilitates the best venue for FX trading.
Best prime of prime broker
A growing niche since the game-changing EUR/CHF debacle, the industry has seen PoP offerings coming from various players. From traditional specialist firms relying on their LP relationships to financial groups expanding into the B2B space, London Summit attendees will determine who was top of the game in 2016.
Best regtech / reporting solution
Changes in the regulatory framework make regtech one of 2016's unlikely buzzwords. The award will be given to companies offering comprehensive regulatory solutions, primarily in documenting and reporting transactions in order to meet regulatory requirements.
Best FX trading platform
Traditionally, MT4 has been synonymous with the term trading platform, and accordingly, MetaQuotes has won several of our awards. Will this year, with the launch of MT5 and the proliferation of webtrader versions, be any different?
Best forex broker
Our flagship badge of honor will be given to a retail FX broker for its performance across the board. Will Saxo Bank be dethroned after winning for two consecutive years? Only you will decide.
Best multi-asset trading platform
The retail FX industry is well into its expansion to multi-asset offering, this new award credits the platforms best equipped for enabling multi-asset trading in terms of instrument diversity and technological integration.
Best CFDs broker
A new award representing the growing significance of CFDs in the online trading industry. Diversity of instruments, trading volumes generated across different assets and brilliance of marketing will take center stage for assessing candidates' qualifications.
Payment service provider
Payments remains a key issue for the industry, and this award will be given to the best PSP solution in terms of costs, access to top-tier banks and acceptance of a broad range of means of payment.
Best automated performance tool
This award is for candidates that have introduced an outstanding automated tool for trading brokers to improve their performance at any stage of their customers' life cycle, from marketing and client acquisition to trader’s retention to better internal operations.
Best binary options provider
The binary space has seen its fair share of heat this year, with regulators and the mass media questioning its very right to exist. The award will be given to technology providers with the most comprehensive solution, offering stability and confidence in a turbulent time of industry clean-up.
Most outstanding institutional FX product
And now for something else. This is the one award which is not determined by vote but rather by our Institutional Lounge judges, as part of the FX Factor product pitch. If the last sentence sounded like Chinese, you can learn more here.
For inquiries about the new structure of awards, please email awards@financemagnates.com
The voting process
Competitors are chosen by rivals, clients and other real market participants
Being a Finance Magnates Award winner is the most prestigious honor in the industry as, unlike with other awards, the winners are chosen by their rivals, partners, clients and other real market participants. Only London Summit registered attendees, the finest of the executive level in the global industry, are given the privilege to participate in the selection process - not a biased panel of experts or anyone else.
To make sure you have a chance to influence the process, simply sign up for the event, and if your participation is approved you will be asked to select your favorites in each category by email about ten days prior to the award ceremony. It's important to note: the first stage contains all the relevant companies in each category! It's the attendees who get to choose who makes it to the next step, meaning: after receiving your votes, we will then tally all the votes and pick out the three most popular contenders in each category for the shortlist.
In the next phase, you will be asked to choose one of the final candidates and the one who receives the majority of the votes will become the winner in its category.
This is why the Finance Magnates Awards Ceremony is the only way to truly know who the industry considers to be the best operators of 2016.
