Trayport and Centrica power up for Financial Industry Association awards shortlist

3 November 2008

Trayport Limited, the industry leading provider of real-time electronic trading software to the world’s financial markets, has been short listed for a Financial Industry Association award for its work with Centrica plc. The nomination is in the category of ‘Most Innovative Financial Services Solution’ and the winner will be decided at the 11th annual awards ceremony in London on19th November.

Trayport is nominated for an award for its work with Centrica plc., the parent company of British Gas and many other energy-related ventures worldwide. Centrica implemented Trayport’s Trading Gateway application as they recognised the need to make trading more efficient and to streamline their internal access to market prices. The entire project was completed in just four months with three engineers from Trayport solely dedicated to ensure the implementation was carried out quickly and smoothly. The amount of users has since grown from an initial 12 to 28 over the first 12 month period.

Trading efficiency has increased significantly compared to using the multiple, standalone screens provided by each broker or exchange. Centrica’s Trading Gateway implementation enabled the company to consolidate trading through one central platform, allowing automatic trade capture and removing the need for traders to go individually to each broker and exchange.

“Trayport is excited to be shortlisted in the category of Most Innovative Financial Services Solution”, said James Davies, Head of Trader Systems Business, Trayport. “We are very proud of our work with Centrica. Access to real-time information and the ability to execute deals quickly is essential for successful trading. Centrica has achieved this by using Trading Gateway. Trades can now be completed in milliseconds giving the company substantial technological and commercial benefits.”

The Financial Industry Association awards are decided by the ifs School of Finance, which is one of the leading bodies for the provision of education and life-long career support to the financial services industry.

The awards are for financial services organisations that have demonstrated excellence in one of the award categories. Some of the best projects implemented during the past year globally are showcased.

"The Financial Innovation Awards are now firmly established as one of the most prestigious awards ceremonies in the financial services industry. Entries from organisations across the globe combined with a rigorous judging process mean that those who are shortlisted, and especially those that win one of the award categories, can take pride in having truly excelled in the financial services industry,” said Chris Ray, Director of Marketing, Events and Alumni at the ifs School of Finance.

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