Survey Methodology


Voting Instructions and Terms & Conditions

Welcome to the 2023 Waters Rankings and thank you for agreeing to take part in this year’s survey. This year, the Waters Rankings features 35 individual categories, split into five sections: Trading ServicesTrading ToolsData and Data ManagementComplianceRisk Management and the Back Office; and Infrastructure and Connectivity.

We would be grateful if you would select a winner in each of the 35 categories. As with all the previous versions of the Waters Rankings, there are no specific criteria explaining each of the categories, although we do require entrants to list the official name of the service and/or product they are nominating, in addition to their company name. As members of the global capital markets community, we trust that your industry knowledge and experience will help you arrive at a single name when it comes to voting.

Please note the following rules pertaining to your eligibility to vote:

Public relations and marketing firms may not vote for their clients.

Employees of third-party technology vendors and services providers/brokers may not vote for themselves.

Private email addresses – Gmail, Yahoo and Hotmail, for example – will be disqualified from voting. This is to ensure that entrants do not vote for themselves or arrange for friends or family members to vote.

The results of this year’s Waters Rankings will appear online. Each category winner will be accompanied by a write-up.

Voting will close Monday June 12th

The Waters Rankings survey is open to any vendor, consultancy or service provider. Only categories with a sufficient number of votes are included in the final poll. The poll is not designed to show a direct reflection of market share – voters might base their decisions on a variety of criteria. In that sense, this poll should be considered a reflection of how financial technology professionals view their peers in terms of overall quality of service. When aggregating the votes, we look to strip out what we consider to be invalid votes. These include people voting for their own firm, multiple votes from the same person or IP address, proxy votes, votes from people using Hotmail or Gmail accounts, votes by people who choose the same firm indiscriminately throughout the poll, votes by people who clearly do not trade the product, and block votes from groups of people on the same desk at the same institution voting for the same firm. The editor's decision is final.