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Morgan Stanley
Morgan Stanley ’ s overall average score comes in at 5.58 , under the overall average . This year it has received 137 responses , quite the increase from last year ’ s 83 , with the majority of clients based in Europe ( 43 %) and the UK ( 31 %), while 32 % of traders report an AUM of $ 50bn or more . Roughly 14 % of respondents reported to be considering using additional algorithmic trading providers in the coming 12 months , with Jefferies , Cowen and Liquidnet each getting a couple of mentions .
Across the board , each category has failed to beat the average . When it comes to ease of use , this category has improved by 0.05 , sitting at the top end of “ good ”. However , this is the only category which has seen any improvement .
Increase in trader productivity takes the top spot , with a score of 5.85 , down 10 decimal points from last year , followed by ease of use and then speed at 5.7 , which has fallen 0.27 . However , this is not the biggest drop in a score for Morgan Stanley this year .
Flexibility and sophistication of smart order routing has fallen a surprising 0.39 , landing on a score of 5.39 , however , this is not the lowest score they received . Customisation features , with a score of 5.33 , sits at the bottom of the chart , having fallen 0.18 over the last 12 months .
When it comes to a comparison with the other providers in this report , Morgan Stanley has landed in the bottom three several times , scoring the lowest score across all 21 providers for customer support , execution consulting and pre-trade cost and flexibility and sophistication of smart order routing . It is also worth noting that they are in the bottom three for the average overall score , however just managed to avoid being at the bottom of this chart .
MORGAN STANLEY RATINGS FOR ALGORITHMIC PERFORMANCE
Increased trader productivity |
Reduced market impact |
Execution consistency |
Cost Speed Anonymity Price improvement Customisation |
5.85 5.62 5.65 5.67 5.79 5.62 5.55 5.33
Ease of use |
Order routing logic / analysis |
Customer support |
Execution consulting |
Dark pool access |
Flexibility and sophistication of SOR |
Algo monitoring |
Average score |
5.82 5.40 5.52 5.41 5.65 5.39 5.49 5.58
KEY STATS Overall Outperformer : NO Category Outperformer : NO
5.85 Highest score ( Increase trader productivity ) |
5.33 Lowest score ( Customisation features ) |
0.05
Most improved ( Ease of use )
|
-0.39
Least improved ( Flex and soph SOR )
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88 // TheTRADE // Q1 2024 |
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