The TRADE 56 - Page 86

[ A L G O R I T H M I C T R A D I N G S U R V E Y ] Goldman Sachs G and Portware were also mentioned. oldman Sachs saw a marked increase in the Building on its solid showing in last year’s hedge number of hedge fund respondents in this year’s fund algo survey, Goldman Sachs outperformed the survey, with just under half of respondents managing survey average in nine of the 14 categories on review more than $50 billion of assets, while there was an this year. The bank saw increased year-on-year scores even spread of hedge funds from other AuM brackets in the reducing market impact, execution consistency, accounting for the rest of the bank’s respondents. Just over one-third of hedge funds respondents for Goldman speed, price improvement, customer support, exe- cution consulting and smart order routing capability Sachs traded listed derivatives and fixed income via categories. A score of 6.17 in the customer support cat- algos. Over half of respondents recorded increased us- egory was the highest achieved by Goldman Sachs in age of the bank’s algos year-on-year, while the rest said this year’s survey, while the bank was most improved their usage had remained consistent over the period, in the execution consulting category, which increased and one-third of respondents said they are considering Goldman Sachs Bloomberg EMSX 0.71 year-on-year. The most significant decline in scor- adopting algos from other providers. Improve for ing for the bank was for its customisation capabilities, was the popular choice for execution management Reduce Execution which dropped to a score of 4.97. Cost Goldman Sachs respondents, while Eze Software, ITG Year trader Speed 2018 2017 RATINGS FOR ALGORITHM PERFORMANCE productivity 5.52 market impact consistency 5.76 5.85 5.95 5.22 5.37 5.52 5.59 5.90 5.52 Improve trader productivity Reduce market impact 5.85 5.76 5.22 Execution consistency 5.95 5.52 5.37 Cost 2018 5.50 2017 5.90 5.59 5.50 Speed 5.66 Anonymity 5.88 5.49 5.44 Price improvement 4.98 Customisation 5.73 5.73 5.85 Ease of use 5.39 Crossing 5.60 Customer support 6.18 5.72 Execution consulting 5.91 5.20 5.38 5.56 Dark pool access 5.50 5.38 Smart order routing capabilities 0.00 86 // TheTrade // Summer 2018 1.0 0 2.00 3.00 4.0 0 5.00 6.0 0 7.00 A n