Waters Rankings 2022: All the Winners and Why They Won
Here are all 35 category winners from this year's virtual Waters Rankings.
This video clip features the 35 category winners of the 2022 Waters Rankings. This year’s Rankings features a number of multiple winners, including SmartStream, S&P Global Market Intelligence, FactSet and Bloomberg.
TRADING SERVICES
- Best Agency Broker – Liquidnet
- Best Crossing Network Provider – Instinet
- Best Algorithmic Trading Provider – BestEx Research
TRADING TOOLS
- Best Artificial Intelligence (AI) Technology Provider – SmartStream Technologies
- Best Sell-Side Order Management System (OMS) Provider – Bloomberg. Click on this link for a video interview with Bloomberg’s Phil McCabe, and on this link for a written Q&A.
- Best Buy-Side Order Management System (OMS) Provider – SS&C Eze
- Best Portfolio Management System Provider – Enfusion
- Best Execution Management System (EMS) Provider – FactSet
- Best Performance Measurement and Attribution System Provider – S&P Global Market Intelligence
- Best Transaction-Cost Analysis (TCA) System Provider – SteelEye
DATA and DATA MANAGEMENT
- Best Enterprise Data Management (EDM) System Provider – S&P Global Market Intelligence
- Best Market Data Provider – Bloomberg
- Best Reference Data Provider – Bloomberg
- Best Alternative Data Provider – FactSet
- Best ESG Data Provider – Moody’s
- Best Corporate Actions Solution Provider – SIX
- Best Low-Latency Data Feed Provider – Anova Financial Networks
- Best Data Analytics Provider – FactSet
- Best Managed Data Service Provider – Bloomberg
COMPLIANCE, RISK MANAGEMENT and the BACK OFFICE
- Best Distributed-Ledger Technology Provider – Broadridge Financial Solutions
- Best AML Compliance Solution Provider – Acuity Knowledge Partners
- Best Market Risk Solution Provider – Rival Systems
- Best Credit Risk Solution Provider – Moody’s Analytics
- Best Market Surveillance Provider – Eventus
- Best Reporting System Provider – FactSet
- Best Accounting System Provider – SS&C Advent
- Best Cyber-Security Provider – LexisNexis Risk Solutions
- Best Reconciliation Management Provider – SmartStream Technologies
INFRASTRUCTURE and CONNECTIVITY
- Best Outsourcing Service Provider – Northern Trust Integrated Trading Solutions
- Best Trading Floor Communication System Provider – IPC Systems
- Best Network Provider – Anova Financial Networks
- Best Mobile Solutions Provider – Symphony
- Best Cloud-Based Application Provider – S&P Global Market Intelligence
- Best Cloud Infrastructure Provider – Red Hat
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More on Awards & Rankings
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IMD & IRD Awards 2026 winner’s interview—Smartstream
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Best reference data integration vendor—Gresham
Gresham’s AI-native EDM Suite combines data from disparate sources and systems and provides user-firms with a single point of integration across the data life cycle.
Best ESG data initiative—Bloomberg
Bloomberg’s Impact and Allocation dataset provides investors with a consistent means of assessing how proceeds are being deployed and what outcomes issuers report.
Best AI/machine learning data initiative—FactSet
FactSet unveiled its MCP server in December 2025, allowing secure, authorized access to the firm’s data from third‑party AI tools.