[ S U R V E Y | E X E C U T I O N M A N A G E M E N T S Y S T E M S ]
Neovest
Neovest , is a wholly owned but independently operated subsidiary of JP Morgan . To enhance its offering and support its clients , Neovest made an acquisition of investment management platform , LayerOne Financial , in March of 2024 . This led to the creation of the company ’ s new solution , PortfolioOne , which covers the full investment process , empowering clients to monitor portfolios , conduct risk assessments , send orders to their brokers , perform necessary compliance checks , and manage their positions . The platform covers equities , ETFs , listed derivatives , FX and commodities . Elsewhere , in December last year , MAIA Technology and Neovest partnered to create an enhanced joint offering of new execution management capabilities for Fulcrum Asset Management , as Fulcrum ’ s trading desk looked to leverage more derivatives strategies and its execution needs evolved . Of Neovest ’ s approximately 600 buy-side clients using its EMS , 33 responded to this year ’ s survey of which 76 % represented firms with less than $ 10 billion in AUM .
Neovest received an average score of 6.41 this year , representing a 35 basis point increase from its 2023 score of 6.06 and 50 basis points above this year ’ s
survey average of 5.91 . Neovest outperformed the category average in all thirteen areas under review , with the most notable areas of outperformance being overall cost of operation (+ 0.66 ), ease of integration to internal systems (+ 0.64 ), client service personnel (+ 0.62 ) and breadth of asset class coverage (+ 0.54 ). When it came to year-over-year performance , the most significant improvements were in breadth of direct connections to venues (+ 0.57 ), breadth of broker algorithms (+ 0.55 ) and latency (+ 0.47 ). The only area Neovest saw a year-over-year decline was timeliness of updates for broker changes , which only experienced a one point drop from its prior year rating and still outperformed the overall category average of 5.90 . Neovest has continued to focus on expanding its capabilities and allocating resources to further enhance its offering and although respondents gave Neovest high marks , they did have a few requests for additional features and capabilities . Respondent ’ s wish list for additional capabilities included mobile trading features , quicker new development and response to new customer requests , imbedded stock locate features and updated compliance to allow easier restricted list changes .
NEOVEST RATINGS FOR EMS PERFORMANCE
Reliability and availability |
Latency |
Client service personnel |
Ease-ofuse |
Handling of new versions / releases |
Breadth of broker algorithms |
Timeliness of updates for broker changes |
FIX capabilities |
6.65 6.55 6.63 6.30 6.22 6.56 6.34 6.71
Breadth of asset class coverage |
Breadth of direct connections to venues |
Product development |
Ease of integration to internal systems |
Overall cost of operation |
Average score |
6.29 6.47 5.90 6.34 6.31 6.41
KEY STATS Overall Outperformer : Category Outperformer : X13
6.71
Highest score ( FIX capabilities )
5.90
Lowest score ( product development )
+ 0.57
Most improved ( breadth of direct connections to venues )
-0.01
Least improved ( timeliness of updates for broker changes )
92 // TheTRADE // Q3 2024