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UBS
This year , UBS has come in just under the average , with an overall score of 5.72 . Covering all the core algorithms with a focus on equities , ETFs , fixed income , foreign exchange and listed derivatives . UBS received 89 responses this year , with over half of respondents from Europe ( 51 %) and 45 % of clients reporting to holding AUM of $ 50bn or more .
Ease of use takes the top spot , with a score of 5.91 , followed by increase trader productivity ( 5.90 ). In third place is cost , which beats the average score with 5.84 , increasing by nine decimal places from 2023 .
The other two categories which beat the average are reduced market impact ( 5.82 ) and customisation features ( 5.69 ). Interestingly , one
respondent commented that UBS could introduce more custom-built strategies , so while there has been clear progress made , respondents are looking for more .
When it comes to customer support , the score is middle of the road , however this category has seen the biggest increase over the last 12 months . Increasing by 0.37 , customer services sit at 5.78 , the top end of “ good ”.
To the other extreme , routing logic analysis has seen a decline since last year , dropping 0.14 to 5.41 , also making this the lowest scoring category .
Around 12 % of traders are considering using additional algorithms providers in the next 12 months , although there is no clear winner about who they will be looking to use .
UBS RATINGS FOR ALGORITHMIC PERFORMANCE
Increased trader productivity |
Reduced market impact |
Execution consistency |
Cost Speed Anonymity Price improvement Customisation |
5.90 5.82 5.83 5.84 5.82 5.75 5.64 5.69
Ease of use |
Order routing logic / analysis |
Customer support |
Execution consulting |
Dark pool access |
Flexibility and sophistication of SOR |
Algo monitoring |
Average score |
5.91 5.41 5.78 5.45 5.83 5.64 5.52 5.72
KEY STATS Overall Outperformer : NO Category Outperformer : X3
5.91 Highest score
( Ease of use )
|
5.41
Lowest score ( Routing logic analysis )
|
0.37
Most improved ( Customer Support )
|
-0.14
Least improved ( Routing logic analysis )
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90 // TheTRADE // Q1 2024 |
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