The annual TabbFORUM NOVA Awards honor the financial industry’s ongoing commitment to technology-driven innovation by recognizing 40 organizations for their outstanding recent and sustained achievements. These selections from across the capital markets are the result of TabbFORUM research, with consideration given to nominations and recommendations solicited from the community. It takes into account the role of innovation not only on internal performance, but also industry impact and leadership. In addition to the 40 NOVAs, 10 more are identified as innovators to watch.
Financial markets, like the overall economy, go through cycles. The same is true of innovation and the progress it brings. But the drive to innovate, often tied to advances in technology, is as constant as any of the forces influencing economies and markets. Where technology intersects with finance and capital markets, investments are directed not just toward improving traditional processes and ways of doing business, but also toward inventing new products and ways of competing. With the NOVA Awards, TabbFORUM recognizes 40 leaders in innovation. Also named are 10 more making strides worthy of attention.
The TabbFORUM NOVA honorees include major exchanges (Intercontinental Exchange, Nasdaq and more) and financial market infrastructures (Depository Trust & Clearing Corp.); asset managers (BlackRock, Fidelity Investments) and servicers (BNY Mellon, State Street); fixed-income (MarketAxess, Tradeweb Markets and Trumid) and digital-asset platforms (EDX Markets, Paxos); and purveyors of data management (Duco, InterSystems, QUODD) and compliance and surveillance capabilities (NICE Actimize, S3).
Financial innovation was recently endorsed in a different way when Patrick McHenry, chair of the U.S. House Financial Services Committee, introduced legislation requiring regulators to establish “financial services innovation offices.” Major federal financial agencies already have them, though few if any worldwide can match the high fintech profile of one of the NOVAs, the Monetary Authority of Singapore.
