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FlexTrade Systems, a global leader in multi-asset algorithmic execution management systems, today announced it has been named, for the second straight year, “Best Vendor for Algorithmic Trading” by the readers of FX Week.

The award was given as part of FX Week's 13th annual Best Banks Awards Dinner, which was held in London on November 13. Results of the awards were based on a survey of 4,861 FX market professionals in August and September 2007. Participants were asked to nominate their preferred banks, brokers and vendors in 39 categories ranging from spot, forwards and options, major and emerging markets currency pairs, regional centres, research and strategy, post-trade service, CLS services and technology. Other contenders for the crown in the “Best Vendor for Algorithmic Trading” category included Aegis, Orc, Deal Hub and Apama.

Earlier this year, FlexTrade’s FlexFX was honored for the second straight year by the editors and judges of FX Week’s e-FX Awards for being the best algorithmic trading solution for foreign exchange in terms of technology and the range of services provided to clients.

“It’s a pleasure and a privilege to receive this honor once again at the Best Banks Awards,” said Vijay Kedia, president and CEO of FlexTrade Systems, Inc. “In fact, what’s particularly gratifying about it is that it’s based on a large survey of our peers in the industry, which affirms that we’re on the right track when it comes to providing cutting edge algorithmic trading solutions.”