Designing matched transmit and receive filters such that their combination satisfies the Nyquist condition is a classical problem in digital communication systems. In this paper, we propose a novel method for designing such filters. The proposed method is based on a cost function whose minimization leads to designs that can strike a balance between the stopband attenuation, the residual intersymbol interference (ISI), robust sensitivity to timing jitter and/or reduced peak-to-average power ratio (PAR). An iterative algorithm for finding the global minimum of the proposed cost function is suggested and its excellent performance is shown by presenting a variety of design examples.