The TRADE 2024 Algorithmic Trading Survey

Dedicating 17 years to Algo Research


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SURVEY CLOSED
Thank you for your interest in The TRADE 2024 Algorithmic Trading Survey.
This survey is now closed. However we encourage you to return for The TRADE 2023 Algorithmic Trading Survey.
For further information please contact Karen Delahoy: karen.delahoy@thetradenews.com / +44 (0)20 7397 3826
About Yourself
* Name
* Email
* Job Function
* Country where you are based
About Your Organisation
* Name of your organisation
  Approximate total value of assets (billions USD)
  Primarily what type of firm are you? Hedge fund
Long-only manager
Primarily long-only manager but with some hedge fund strategies
Institutional
Retail
Other (please specify):
  What type of clients do you have? High Net Worth Individuals and Wealth Managers
Institutional
Retail
Institutional and retail
Algorithmic Trading Activity
  1. On average what percentage of trades by value is executed by algorithms on a daily basis?
  2. On average what percentage of trades by volume is executed by algorithms on a daily basis?
  3. What percentage of the following securities do you trade electronically?  Crypto
 Equities
 ETFs
 Fixed Income
 Foreign Exchange
 Listed Derivatives (Futures and options)
 Other (please specify)
  4. Of the following, what are the most attractive features of algorithms from your perspective?
  Elements Impacting Directly on the Desk Ease-of-use
Increased trader productivity
Lower commission rates
  Elements Impacting Directly on Execution Consistency of execution performance
Higher speed, lower latency trading
Better prices (Price Improvement)
Reduced Market Impact
  Other Features Greater anonymity in trading
Results consistently match pre-trade estimates
Customisation capabilities
Flexibility and sophistication of smart order routing
Algo monitoring capabilities
Data on venue/order routing logic or analysis
  Which of the following markets do you trade electronically? Europe
North America
APAC
LATAM
MEA
* 5. Of the following providers, which do you use regularly for algorithmic trading (maximum=10)?
Barclays 
Berenberg 
Bernstein 
BestEx Research 
Bloomberg Tradebook 
BMO Capital Markets 
BNP Paribas 
BofA Securities 
Citi 
CLSA 
Cowen Inc. 
Credit Suisse 
Daiwa Securities 
Dash Financial Technologies (inc. Convergex's LiquidPoint) 
Goldman Sachs 
Haitong International Securities 
HSBC 
Instinet 
J.P. Morgan 
Jefferies 
Kepler Cheuvreux 
Liberum T-REX 
Liquidnet 
Macquarie 
Mirabaud Securities 
Morgan Stanley 
Nomura 
Piper Sandler & Co. 
Precision (Cantor Fitzgerald) 
Raymond James 
RBC Capital Markets 
Redburn Atlantic 
Societe Generale 
Stifel Europe 
UBS 
Virtu Financial / Virtu ITG 
Vontobel 
Wells Fargo Securities 
Other (please specify):
  6. For your most-used providers, what types of algorithm do you use?
Market Participation or Benchmark Algorithms
VWAP
%Volume (Participation)
TWAP
Target Close/Auction Algos
Price Improvement Algorithms
Implementation Shortfall (Single Stock)
Dark or Alternative Liquidity Seeking
Implementation Shortfall (Basket)
Other 
  7. For your most-used providers, which of the following asset classes are traded using algorithms?
Asset Class
Crypto
Equities
ETFs
Fixed Income
Foreign Exchange
Listed Derivatives (Futures and options)
  8. Please rate the algorithmic trading capabilities of your most-used providers in terms of the features below.
      (Each feature should be rated on the following scale: 7-Excellent; 6-Very Good; 5-Good; 4-Satisfactory; 3-Unsatisfactory; 2-Weak; 1-Very weak)
Scores
Increase trader productivity
Reduced market impact
Execution consistency
Cost
Speed
Anonymity
Price improvement
Customisation features
Ease of use
Data on venue/order routing logic or analysis
Customer support and services
Execution consulting and pre-trade cost estimation
Breadth of dark or alternative liquidity sources that are accessed
Flexibility and sophistication of smart order routing
Algo monitoring capabilities
 
  9. Additional comments
    300 character maximum, incl spaces
  10. How do you measure algo performance? Implementation Shortfall TCA
VWAP TCA
Mean reversion
Liquidity capture
Other (Please Specify)

  11. For your most-used providers, do you expect to make use of any additional algorithms? Yes    If YES, which algorithms?
No
Algorithmic Trading in 2025
  12. Do you expect to make use of additional algorithmic trading providers in the next 12 months? Yes    If YES, which provider(s)? 
No
  13. What additional product features and/or service features do you want from existing/prospective providers?
    300 character maximum, incl spaces
  14. Are your algorithms executed through an OMS/EMS? OMS  If YES, which one? 
EMS  If YES, which one? 
Neither OMS or EMS
  15. What use are you making of smart order routing at present?
    300 character maximum, incl spaces
  16. Do you access algo engines directly using Broker Strategy Access (BSA)? Yes
No

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