Sometimes in the present climate it can seem hard to celebrate innovation – the word has almost become taboo in some circles. But FOW believes that innovative does not have to mean dangerous.
Innovation is needed to enable markets to serve the economy better and more safely – and the derivative industry has always been at the leading edge of forming new products, markets and technologies.
For that reason, FOW’s awards in 2009 will recognise innovation. Judged by an authoritative panel of industry experts, each award will be for a specific action or innovation during the year that has solved a problem creatively, opened up new possibilities, or changed the way participants approach the market.
As such, the awards will not be given for an institution’s overall performance.
FOW invites market participants to submit projects, deals, products or initiatives to us for consideration for the awards.
To qualify, the initiative must have come into effect, or become available for market participants to use in real commercial activity (i.e. not just an announcement or test run) between April 1, 2008 and March 31, 2009.
Initiatives made jointly by more than one firm or institution will be considered on an equal basis with those by one organisation.
To submit an innovation for consideration for an award, please contact Jon Hay, managing editor, FOW (jhay@fow.com, +44 207 779 8372).
The submission should comprise a statement of no more than 500 words, plus up to two pages of supporting information. We will be happy to answer any questions you may have or discuss with you what information to provide. We may also request further information if that is needed during the judging process.
Nominations may come either from the authors of the innovation or from anyone else – for example, market participants who have been impressed by it. If you are nominating an initiative by a third party, there is no need to provide detailed information – we will contact the author of the innovation.
All entries will be judged objectively by a panel of experts. FOW’s decision will be final, and we reserve the right not to give certain awards if, in the panel’s judgement, the quality of entries is not sufficient. The closing date for submissions is May 15. The awards to be given are listed below.
Best innovation by a clearing house
- Americas
- Europe, Middle East and Africa
- Asia Pacific
Best innovations by exchanges in the field of product design
- East Asia (China, Japan, Korea, Taiwan)
- South and Southeast Asia and Australasia
- Latin America
- North America
- Western Europe
- Eastern Europe
- Africa
- Middle East
Best innovations by exchanges in the field of customer service
- East Asia (China, Japan, Korea, Taiwan)
- South and Southeast Asia and Australasia
- Latin America
- North America
- Western Europe
- Eastern Europe
- Africa
- Middle East
Best innovations by IT or software firms
(no categories, but first, second and third prize given if appropriate)
Best innovations by banks, brokers or futures commissions merchants in the field of customer service
(no categories, but first, second and third prize given if appropriate)
Most innovative or creative use of derivatives
(no categories, but first, second and third prize given if appropriate. This award to be given to companies, governments or their advisers for using derivatives successfully to achieve a specific investment or hedging aim)
Most innovative work by a law firm in the field of exchange-traded or centrally cleared derivatives
Most creative action by a regulator