The TRADE 56 - Page 88

[ 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