Morgan Stanley takes IT honours at Financial News awards  

21 Sep 2006

Morgan Stanley has taken the crown for best European IT department for the second year in a row at the fourth annual Financial News Awards for IT Excellence, with Credit Suisse, Reuters, Bloomberg and Markit Group last night’s other big winners.

Morgan Stanley won best European IT department over rivals Credit Suisse, Dresdner Kleinwort and Deutsche Bank, and claimed the best back office solution prize for its European equity asset servicing project.

The US investment bank shared the sell side awards with Credit Suisse which won the best algorithmic trading system prize for the second year, and claimed the award for best regulatory driven initiative for its work on commission sharing.

Its chief information officer Tom Sanzone saw off peers from Deutsche Bank, Dresdner and Morgan Stanley to take the coveted best personal contribution prize.

Reuters, Bloomberg and Markit Group dominated the data and trading categories.

Reuters took three awards. It won best foreign exchange trading venue and best FX data solution. Reuters also shared the award for best equities data solution with Thomson Financial.

Bloomberg took the awards for both data and trading excellence in fixed income.

Markit Group claimed the best derivatives data solution for the second year running and the best new vendor solution for its derivatives system.

Eurex, the German exchange, knocked Euronext.liffe off top spot to claim the prize for best derivatives trading venue and the London Stock Exchange beat rivals Euronext and Deutsche Börse to the best equities trading venue award.

Barclays Global Investors was the inaugural winner of this year’s third new category – best buy side IT department of the year.

In total nine organisations shared 15 awards.

Financial News compiled a short list based on firms nominating themselves and consultation with industry experts. The winners were chosen by a panel of ten judges who are independent analysts and consultants.