e-FX Awards 2020: The winners

Citi takes three categories in 18th annual awards; XTX picked as best LP for spot, while Goldman wins algo crown

FX Markets is delighted to announce the winners of the e-FX Awards 2020. The roll of honour can be found below – we would like to congratulate all of the firms on their achievements. 

With the awards now in their 18th year, the list of categories has been refreshed – as has the publication behind them. This year, they were contested across 23 submission-based categories, covering all aspects of electronic trading in currency markets. The initial field of entries comprised more than 100 submissions.

Among the highlights, Citi landed three wins – best liquidity provider for options and for corporates, as well as best single-dealer platform – while XTX Markets took the title of best spot liquidity provider. Goldman Sachs bagged the award for best algo provider, a hotly contested category this year.

BNP Paribas is this year’s best prime broker, with Saxo Bank taking best prime-of-prime – a title it also won in 2018.

The platform awards are spread among 360T, Digital Vega, Euronext FX, FX HedgePool, Saxo Bank and Singapore Exchange – and this is the segment we chose to consider in more detail in the feature that accompanies this year’s awards. After years of fragmentation, some of these venues are now embracing consolidation as a strategy – or hoping to become the beneficiaries as liquidity providers consolidate. You can read that article here.


As always, picking the winners was extremely difficult.

The final decisions were made by a panel of judges that includes FX Markets’ editors, weighing a number of factors, including strategic clarity, growth, risk management discipline, innovation and adaptability, thought leadership, and a commitment to investing in the business.

Where decisions were tight, client feedback often helped settle the issue.

The FX Markets editorial team thanks all this year’s participants for their time and help. Many thanks also to our judging panel, all of whom are listed below.

 

e-FX Awards 2020 – The winners 

Liquidity provider categories 

  • Best liquidity provider for spot: XTX Markets  
  • Best liquidity provider for options: Citi  
  • Best single-dealer platform: Citi 
  • Best liquidity provider for e-trading support: Deutsche Bank 
  • Best algo provider: Goldman Sachs 
  • Best non-bank algo provider: Tradepoint Systems 
  • Best liquidity provider for corporates: Citi 
  • Best liquidity provider for transparency: Citadel Securities 


Prime brokerage categories

  • Best prime broker: BNP Paribas 
  • Best prime-of-prime broker: Saxo Bank 


Venue categories

  • Best ECN/MDP for spot: Euronext FX 
  • Best ECN/MDP for forwards/swaps: 360T 
  • Best ECN/MDP for options: Digital Vega 
  • Best exchange for FX: Singapore Exchange 
  • Best retail FX platform: Saxo Bank 
  • Best new venue initiative: FX HedgePool 


Infrastructure and services categories

  • Best CCP for FX: LCH Group 
  • Best liquidity aggregator/connectivity service: Avelacom 
  • Best compression/optimisation service for FX: TriOptima 
  • Best new infrastructure initiative: Cobalt 


Software and data categories

  • Best market data provider: 360T 
  • Best trading software for FX: FactSet 
  • Best surveillance provider for FX: Ideal Prediction

 

Judging panel

Saeed Amen – Founder at Cuemacro 

Brad Bailey – Research director at Celent  

John Greenan – CEO at Alignment Systems 

Andreas König – Head of global FX at Amundi Asset Management

Stephan von Massenbach – CEO at Modular Financial Technologies  

Satnam Sohal – Consultant at Greenwich Associates 

Duncan Wood –  Editorial director 

Lukas Becker – Editor, Markets

Alessandro Aimone – Deputy editor, Markets 

 

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