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BofA Securities
BofA Securities has seen an uptick in the number of responses it has received this year , with an impressive 79 traders sharing their views on the provider . While it has failed to beat the overall average , or be a category outperformer , BofA Securities has done well when it comes to improving their customer support ( up 0.16 ), anonymity ( up 0.12 ), customisation features ( up 0.04 ) and flexibility and sophistication SOR ( up 0.01 ). In fact , it is worth noting that for each category BofA has received a score of “ good ”.
However , there are areas where BofA does need to focus on , especially when it comes to speed . This year , traders gave BofA a score of 5.48 - the lowest score for this category . In fact , for 10 of the 15 categories the survey covers BofA scored in the bottom three places , as well as having the lowest overall average score .
Unfortunately for BofA , it scores in the bottom three for quite a few of the categories covered by the survey . With execution consistency , speed , price improvement , ease of use , and breadth of dark pool all scoring the lowest score compared to our top 21 providers .
The majority of BofA Securities responses come from Europe ( 378 ) and the US ( 21 %), as well as a few responses coming in from the UK ( 17 %) with 37 % of clients reporting an AUM of over $ 50bn .
Interestingly , 15 % of BoA ’ s clients have reported to be considering using additional algorithmic providers in the coming 12 months , with Berenberg being a top contender for consideration .
BOFA SECURITIES RATINGS FOR ALGORITHMIC PERFORMANCE
Increased trader productivity |
Reduced market impact |
Execution consistency |
Cost Speed Anonymity Price improvement Customisation |
5.71 5.58 5.64 5.69 5.48 5.69 5.37 5.45
Ease of use |
Order routing logic / analysis |
Customer support |
Execution consulting |
Dark pool access |
Flexibility and sophistication of SOR |
Algo monitoring |
Average score |
5.58 5.40 5.76 5.45 5.51 5.53 5.43 5.55
KEY STATS Overall Outperformer : NO Category Outperformer : NO
5.76 Highest score
( Customer support )
|
5.37 Lowest score ( Price improvement ) |
0.16
Most improved ( Customer support )
|
-0.39
Least improved ( Breadth dark pools )
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80 // TheTRADE // Q1 2024 |
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