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Mirabaud Securities
M
irabaud Securities is a new entry for this year’s
hedge fund algo trading survey, garnering a
respectable percentage of responses, with only four
of the profiled providers attracting higher. Respon-
dents for Mirabaud Securities were primarily from the
small to mid-cap AuM brackets, with only two firms
managing more than $10 billion of assets. Mirabaud
Securities produced a strong showing according to
hedge fund respondents this year, attaining an average
score of 6.01, well above the survey average of 5.72,
representing the third-highest average score of all
profiled providers. The broker scored higher than any
other provider in five of the 15 areas of performance
under review in this year’s survey: ease of use (6.16),
customer support (6.34), execution consulting (6.18),
dark pool access (6.37) and data on venue/order rout-
ing logic or analysis (6.31). Mirabaud Securities also
received a score of over 6.0 in the increasing trader
productivity (6.07) and algo monitoring capabilities
(6.03) categories. The firm’s lowest score was in the
speed category (5.60), although this still represents a
respectable performance. The challenge for Mirabaud
Securities will now be maintaining, or improving,
these scores in next year’s survey.
MIRABAUD RATINGS FOR ALGORITHM PERFORMANCE
Increase trader
productivity Reduce market
impact Execution
consistency Cost Speed Anonymity Price
improvement Customisation
6.02 5.96 5.93 5.98 5.60 5.95 5.88 5.64
Ease of use Customer support Execution
consulting Dark pool access Flexibiltiy and sophistication
of smart order routing Algo monitoring
capabilities Data on venue/order
routing logic or analysis Average
score
6.16 6.34 6.18 6.37 5.88 6.03 6.31 6.01
KEY STATS
6.37 5.60 64%
Highest score
(dark pool access) Lowest score
(speed) Most popular non-equity asset
traded via algo by respondents:
Exchange-traded funds
N/A N/A 43%
Most improved
year-on-year score Least improved
year-on-year score Most used algo
performance measurement
method: VWAP TCA
Issue 60 // TheTradeNews.com // 95