[ A L G O R I T H M I C T R A D I N G S U R V E Y ]
Bloomberg
Bloomberg attracted one of the lowest percentages of responses from long-only firms in this year ’ s survey , accounting for just 1.58 % of total respondents . Those that did rate Bloomberg were hardly generous with their scoring either , as the data giant ranked consistently poorly in almost every category reviewed . Respondents were primarily from the $ 1-10 billion in AuM range , with only two firms over $ 10 billion in AuM reviewing Bloomberg , from a variety of trading activities across asset classes .
All of Bloomberg ’ s respondents said they do not use any other algos in their trading activities and twothirds recorded that usage of Bloomberg algos had increased on the previous year . One-third of respondents said they are considering adopting additional algo providers in addition to Bloomberg , with some requiring functionality for customisation features for algos in order to optimise or make decrement executions . Unsurprisingly , EMSX was the exclusive choice of execution system for Bloomberg clients .
Bloomberg ’ s scoring will be of some concern , as the vendor failed to attract a score of 5 in all but two of the categories reviewed . Its highest score was for cost with 5.56 , above the survey wide average , although this did represent a decrease on its score from 2017 . There were significant drops in year-on-year ratings for execution consistency , ease of use and crossing , but Bloomberg ’ s lowest scores were in the customer support and execution consulting categories with 3.45 and 3.83 respectively , going against the overall survey trend , where both categories scored well in the early days of the new MiFID II regime .
BLOOMBERG RATINGS FOR ALGORITHM PERFORMANCE 2018 2017
Improve trader productivity
Reduce market impact
Execution consistency Cost
Speed
Anonymity Price improvement
Customisation
Ease of use
Crossing
Customer support
Execution consulting
Dark pool access
Smart order routing capabilities
5.07 |
5.56 |
4.84 |
5.48 |
4.68 |
5.65 |
|
5.56
5.67
|
4.24 |
5.58 |
4.64 |
5.31 |
4.43 |
5.21 |
4.64 |
5.28 |
4.84 |
5.77 |
3.50 |
4.52 |
3.45 |
4.79 |
3.83 |
4.96 |
|
4.84
4.64
|
5.18
5.30
|
0.00 |
1.0 0 |
2.00 |
3.00 |
4.0 0 |
5.00 |
6.0 0 |
7.00 |
Issue 55 // TheTradeNews . com // 83