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Goldman Sachs
Goldman Sachs has seen some improvement since last year , however the firm failed to beat the overall average . Taking the top spot is ease of use , with a score of 6.00 . One development this year from Goldman was that it boasted to being one of the first providers to launch smart algos to trade non-deliverable forwards ( NDFs ), and to being the first bank to offer a portfolio-style basket algo . Although it is worth noting that this boast is supported by one trader commenting on Goldman Sachs ’ “ excellent CRB algorithms ”.
Customer support has seen the greatest increase in the score from last year – up 0.25 . The majority of comments from long-only managers reflect this , highlighting the very good service level , particularly in Europe . Arun Abraham-Singh is the only person who was name checked .
Whilst there are several areas in which they excel , it is also worth noting that when it comes to price
improvement and customisation features , Goldman Sachs is rated in the bottom three for each of these categories . Interestingly though , the firm ’ s price improvement score has seen a slight increase in comparison with last year , so perhaps there is a positive spin to put on this . While traders may feel this is a category where Goldman Sachs is lacking , it is clear that some improvements may have already begun to be made .
This year Goldman Sachs received 107 reviews from traders , the majority in Europe ( 45 %) and the UK ( 36 %) with 46 % of respondents reportedly holding an AUM of over $ 50bn . Last year , 22 % of long-only managers reported that they would be looking to make use of additional algorithmic providers over the next twelve months , however this year this number has fallen slightly , with approximately 17 % considering using additional providers .
GOLDMAN SACHS RATINGS FOR ALGORITHMIC PERFORMANCE
Increased trader productivity |
Reduced market impact |
Execution consistency |
Cost Speed Anonymity Price improvement Customisation |
5.74 5.74 5.84 5.87 5.87 5.74 5.47 5.22
Ease of use |
Order routing logic / analysis |
Customer support |
Execution consulting |
Dark pool access |
Flexibility and sophistication of SOR |
Algo monitoring |
Average score |
6.00 5.57 5.79 5.53 5.75 5.65 5.53 5.69
KEY STATS Overall Outperformer : NO Category Outperformer : X3
6.00 Highest score
( Ease of use )
|
5.22
Lowest score ( Customisation features )
|
0.25
Most improved ( Customer Support )
|
-0.22
Least improved ( Customisation features )
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82 // TheTRADE // Q1 2024 |
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