Traders Magazine was one of two publications nationally to win the 15th annual Best in Business Journalism Competition’s New Enterprise award in the Small Magazine Enterprise category. The award came from the Society of American Business Editors and Writers (SABEW).
Traders Magazine was ahead of the curve when it published its July 2009 cover story, "Flash Point: Equities Industry Clashes over Flash and Step-Up Orders." The topic of flash orders made national headlines later that summer. The article was written by Nina Mehta with editorial guidance from executive editor Peter Chapman and editorial director Michael Scotti.
Overall, Bloomberg Markets and CFO Magazine were the only other winners nationally in the Small Magazine category. Besides Traders Magazine, Bloomberg Markets won the other two awards in the New Enterprise category. Separately, CFO Magazine and Bloomberg each won an award for general excellence for small magazines. Small magazines are those with circulation under 500,000 copies.
"This story was the ground-breaking article that pulled back the covers on the practice of flash orders. After it got a broader audience in the New York Times, it led to almost immediate reforms in the industry," said Beth Hunt, a SABEW board governor and the chair of the Best in Business Committee. "The author demonstrates a great understanding of the intricacies of how this market operates."
"This award is an example of how trade publications can influence the mainstream media, which is rare," said Scotti, who assigned the story. "It is rewarding to know that journalism can make a difference in business and society at large. Nina and Peter worked very hard to develop the piece, so everyone is proud of their work."
Said Ken Heath, publisher of Traders Magazine and Securities Industry News, "I am appreciative of the award and pleased with the recognition of Traders Magazine’s outstanding editorial contribution to the institutional trading community."
The New Enterprise award will be given tomorrow during SABEW’s 47th annual conference at the Heard Museum in Phoenix. The group is based at the Walter Cronkite School of Journalism and Mass Communication at Arizona State University and is a 501(c)(3) corporation. It is not part of the journalism school or ASU.
SABEW started the Best in Business competition in 1995 to help set standards and recognize role models for outstanding business journalism.
All winning entries will be considered for SABEW’s Best of the Best awards, honoring the very best of business journalism produced at newspapers, magazines and websites during 2009 later this year.
SABEW is an independent, not-for-profit organization that promotes best practices for business writers and editors.
