[ A L G O R I T H M I C
T R A D I N G
Figure 3: Average number of providers used by AUM
Not answered
3.49
2.5
1.53
3.51
2.17
$.02 5- 0.5 billion
1.12
$0.5 - 1 billion
Long only 2018
Long only 2017
Long only 2016
2.87
1.77
Up to $0.25 billion
2.26
2.5
1.43
3.13
3.64
3.53
$1 - 10 billion
4.32
3.81
3.75
$10 - 50 billion
two years. Overall the average
score was a respectable 5.57, which
despite falling from last year’s aver-
age of 5.7, is consistent with 2016’s
results, a trend which can be seen
across most of the categories under
evaluation. The highest score was
achieved in the customer support
category this year with 5.76, hardly
surprising given the increasing
level of ongoing assistance brokers
and algo providers must now
provide to their asset management
clients both pre-and post-adop-
tion. Clearly the sell-side has been
delivering on these demands in the
run-up to MiFID II.
1
2
3
4.26
4.41
3.51
More than $50 billion
0
S U R V E Y ]
5.09
4
5
6
“Brokers will continue to assess where they
are generating revenues from their buy-side
clients, but in the new trading environment, the
balance of power seems to reside with the asset
managers.”
Along similar lines there were high scores for the
quality of execution consulting and dark pool access.
Consulting may have become something of a dirty
word on the buy-side as a result of the work required
ahead of MiFID II’s arrival, but its role in driving
algo understanding and implementation, particularly
when it comes to achieving best execution, seems to
have been acknowledged by the survey’s respondents.
Trading in the dark has also been a hot topic within
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