In the Market Data Latency category, 29West prevailed over other finalists NYSE Euronext and Thomson Reuters; in the Real-time Market Data Management category, 29West beat Interactive Data and KX Systems.
Winners of the Leaders in Innovation Awards include global transaction banks and financial hardware and software vendors that, according to Financial-i, âhave excelled in the past 12 months in terms of innovation in business solutions across wholesale transaction banking, encompassing Treasury & FX, securities services, data management, risk management, and network services.â
Financial-i reports that the companies originally shortlisted for the awards are not self-nominated, but selected based on research by Financial-i journalists and independent analysts. An advisory panel made up of analysts, consultants and market practitioners then review the list. Winners in each category are chosen based on the feedback from the panel. Financial-i says the Leaders in Innovation Awards specifically recognize those companies that demonstrate an ongoing commitment to innovation.
Financial-i has established the following criteria for the awards:
â¢ Innovations in global transaction banking business solutions over the last 12 months
â¢ Upgrades made to existing solutions
â¢ Functionality enhancements
â¢ Depth and breadth of functionality
â¢ Customer service segments
â¢ The ease with which customers can implement and interface with solutions
â¢ How solutions help companies solve common business issues
Full coverage of the winners will be featured in the Q4 2009 edition of Financial-i later this month.
âWe are very pleased to receive these awards,â said 29West President and Founder Mark Mahowald. âItâs gratifying to be recognized for our innovations in moving the latency target ever closer to zero, and providing a more powerful next-generation messaging backbone under our customersâ applications.â The awards come on the heels of 29Westâs 13th straight quarter of record revenue. The firm expects to close out 2009 strong, with about a 70-percent revenue increase for 2009 over 2008. More than 130 banks, exchanges, trading firms and hedge funds have deployed 29West in their organizations.