[ A L G O R I T H M I C
T R A D I N G
S U R V E Y ]
ITG
I
TG was the standout performer in this year’s
hedge fund algo survey, outscoring the survey
average in all but one category and garnering the
highest score in eight of the 14 categories reviewed
by respondents, despite recording a small decrease in
percentage of hedge fund respondents year-on-year.
Respondents were primarily from the small-to-mid-
sized AuM bracket, while one-third manage more
than $50 billion of assets. Half of ITG respondents
have used algos to trade ETFs over the past year,
while one-third have been active in listed derivatives,
and two-thirds of respondents recorded increased
usage of ITG algos ITG
year-on-year. One-third of re-
spondents said they are considering using
algos from
Improve
other providers, with functionality
for SI
routing
Year
trader
2018
2017
RATINGS FOR ALGORITHM PERFORMANCE
productivity
5.97
highlighted as desired.
One of the few providers to receive increased year-
on-year scores from hedge funds for this year’s survey
for most of the categories reviewed, ITG saw only its
cost score decrease this year, from 5.4 to 5.2. Respon-
dents handed out scores of over 6 for ITG’s reduc-
ing market impact, anonymity, price improvement,
execution consulting, dark pool access and customer
support, while the firm also beat the survey average
in every category except cost. It’s most significant in-
crease came in the price improvement category, which
rose from 5.17 last year to 6.37 in this year’s edition
of the survey, while almost attaining a perfect score
in the customer support and ease of use categories,
Reduce
Execution
which both scored
6.75.
Cost
Speed
market impact
consistency
6.20
5.60
5.83
5.51
5.20
5.47
5.40
Improve trader productivity
6.20
5.51
Execution consistency
2017
5.97
5.60
Reduce market impact
5.81
2018
5.47