JPMorgan was the big winner in Financial News’s 18th annual Trading & Tech Awards, claiming prizes in four categories.
The US bank picked up the prestigious Trading House of the Year award for the second year running. JPMorgan has made a big push into electronic trading, applying its knowledge in equities across other asset classes.
It had a particularly strong year in fixed income in 2019, with Greenwich Associates ranking it a “clear first” for market share in European fixed income. The awards are voted on by senior market participants, their peers, clients and advisers.
JPMorgan also won Sellside Electronic Execution Department of the Year and its asset management arm was named Buyside Electronic Execution Department of the Year.
This year, FN opened up Best Firm for Market Structure and Execution Consulting to non-bank entrants. JPMorgan came top but Rosenblatt Securities came a close second.
The London Stock Exchange Group was named Exchange Group of the Year, ending Cboe Europe’s five-year run — although it was a close contest — while its chief executive David Schwimmer won Industry Leader of the Year in recognition for the work he has done since taking over the helm of the bourse two years ago.
Schwimmer marked his first anniversary as chief executive in August 2019 by announcing a landmark $27bn deal for data provider Refinitiv — a move backed by shareholders and widely welcomed within the City of London.
That transaction was threatened the following month when Hong Kong Exchanges and Clearing made a bid for the LSE, which the group successfully fought off.
However, the deal for Refinitiv, which picked up the prize for Best Market Data Provider, is currently subject to a European Union investigation. A decision is expected by the end of the year.
State Street picked up three gongs. It was named Custodian of the Year, while its TradeNeXus service for FX and money market transactions picked up the Post-trade Initiative of the Year Award. Its FX Connect platform won Best Foreign Exchange Trading Platform.
Clearing House of the Year went to EuroCCP, showing that the industry is confident in its ability to move on from a tough year in 2019 under the new ownership of Cboe Global Markets.
Best Firm for Market Structure and Execution Consulting
Runner-up: Rosenblatt Securities