The TRADE 56 - Page 85

[ A L G O R I T H M I C T R A D I N G S U R V E Y ] Exane BNP Paribas E scores from this year’s hedge fund respondents, with xane BNP Paribas attracted only half as many decreased scores in all but one of the 14 categories hedge fund respondents year-on-year, although reviewed. There were significant declines in the im- this translated into a small decrease in the percentage proving trader productivity, reducing market impact, of overall respondents for this year’s survey. The ma- price improvement, customisation, crossing and dark jority of the Paris-based firm’s respondents were from pool access categories compared to last year’s ratings, small-to-medium AuM brackets, with just one hedge however Exane BNP Paribas still outperformed fund managing more than $50 billion of assets. Over the survey average in six of the 14 categories under half of respondents indicated they had increased their review. The only category in which the firm received usage of Exane BNP Paribas algos over the past year, an increased year-on-year score was for its customer while all respondents said that the firm was their only support, which saw a marginal uptick from 6.12 in provider of trading algos. However, just under one- 2017’s survey to 6.17 this year. Exane BNP Paribas’ third of hedge fund respondents indicated that they BNP Paribas highest score from hedge fund respondents was in the were considering Exane adopting algos from other providers. Improve anonymity category, which was rated 6.19, a year-on- Following an impressive showing in last year’s Reduce Execution year decrease of 0.15. survey, Exane BNP Paribas more critical Year received far trader Cost Speed 2018 2017 RATINGS FOR ALGORITHM PERFORMANCE productivity 5.03 market impact consistency 5.53 6.42 5.34 6.69 5.26 6.38 5.37 6.18 2018 5.03 Improve trader productivity 6.42 5.53 Reduce market impact 6.69 5.34 Execution consistency 6.38 5.26 Cost 6.18 5.37 Speed 2017 6.32 6.19 6.34 Anonymity 4.82 Price improvement 5.99 5.56 Customisation 7.00 5.50 Ease of use 4.62 Crossing 6.36 5.72 6.17 6.12 Customer support 5.73 Execution consulting 4.97 Dark pool access 6.30 5.70 Smart order routing capabilities 0.00 1.0 0 2.00 3.00 4.0 0 5.00 6.03 6.0 0 6.32 7.00 Issue 56 // // 85 6.32 A P C n r u o i