[ A L G O R I T H M I C
T R A D I N G
S U R V E Y ]
Barclays
B
arclays saw a slight decrease in the percentages
of responses from hedge fund firms for this year’s
survey, with the third-lowest percentage of responses
among the algo providers profiled, ahead of only ITG
and Bloomberg. Two-thirds of Barclays respondents
were small-to-mid sized, managing assets of $1-10
billion, with one firm from the more than $50 billion
bracket. Respondents ranged from equities-only firms
to those that were also trading foreign exchange, fixed
income and listed derivatives via algo.
Half of hedge funds respondents indicated that use
of Barclays algos had increased over the past year.
Barclays
Only one respondent
said they were looking at adopt-
Improve
ing algos from providers other than Barclays,
with
greater depth of commentary
and
SI
routing
selection
Year
trader
2018
2017
RATINGS FOR ALGORITHM PERFORMANCE
productivity
4.87
highlighted as desired features. Bloomberg was the
EMS provider of choice for Barclays’ respondents,
with half of respondents using the EMSX system.
Barclays recorded a score of less than 5 in all but
three of the categories reviewed by respondents in
this year’s survey, with a year-on-year decrease across
all categories. The most significant decreases came in
the improving trader productivity, reducing market
impact, execution consistency and customer support
categories, which all dropped by at least 1 score point
in this year’s survey. However, of more concern will be
significant score drops in areas where Barclays per-
formed well last year; dark pool access and speed both
dropped below a score of 6 this year, while customisa-
Reduce
Execution
tion fell to below a score of 4.
Cost
Speed
market impact
consistency
4.55
5.96
4.52
5.55
4.65
5.76
5.51
4.87
Improve trader productivity
Reduce market impact 4.55
Execution consistency 4.52
5.76
5.51
5.30
6.02
4.98
Anonymity
5.82
4.81
3.94
Customisation
5.42
5.07
5.09
Ease of use
4.49
Crossing
5.94
5.40
Customer support 4.70
Execution consulting 4.70
5.79
5.27
5.25
Dark pool access
4.81
Smart order routing capabilities
0.00
1.0 0
2.00
3.00
4.0 0
2017
5.55
Speed
Price improvement
2018
5.96
4.65
Cost
5.30
5.00
6.22
5.54
6.0 0
7.00
Issue 56 // TheTradeNews.com // 81
6.02
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