[ S U R V E Y | A L G O R I T H M I C T R A D I N G ]
Berenberg
Berenberg’ s overall average score in this year’ s survey was 6.21, up 0.06 from 2024 and landing 0.21 above the survey average( 6.00). The two largest year-over-year increases were ease of use( 0.34) and customisation features( 0.19). The least improved category was execution consulting, which shrank by-0.16. The broker ' s highest scores were in customer support( 6.69), ease of use( 6.52) and increased trader productivity( 6.38). When compared across all providers, Berenberg performs well, beating the category benchmarks across 13 of the 15 areas under review and landing within the top three of the providers profiled in five categories. More importantly, Berenberg boasts the best score for customer support with 6.69, outperforming the category average by an impressive 0.57.
This year, Berenberg received 86 responses, which ranks the bank seventh amongst its peers in terms of submissions. Around 31 % of long-only managers responding to this year’ s survey that do business with Berenberg indicate they have more than $ 50 billion in AUM, followed not too
far behind by those managers with between US $ 10 and $ 50 billion in AUM at 30 %. Respondents were from Europe( 47 %) and the UK( 36 %), with the remainder split between North America( 16 %) and ROW( 1 %). The most commonly used performance measurement metrics were VWAP TCA and implementation shortfall TCA.
In its provider submission to the survey, Berenberg states it has experienced 17 % year-onyear growth on the electronic side of the business, with significant expansion plans for 2025 for both US and European teams.
Sample feedback from respondents included the following:
• High marks for technology and customer service
• Appreciate the automatic IB messages for working orders
• Looking for more access to consistent ELP liquidity
• More enhancements in customisation
• Access to more portfolio / pair trading algos and dynamic close algo
BERENBERG RATINGS FOR ALGORITHMIC PERFORMANCE
Increased trader productivity |
Reduced market impact |
Execution consistency |
Cost Speed Anonymity Price improvement Customisation |
6.38 6.14 6.21 5.90 6.20 6.01 5.95 6.31
Ease of use |
Order routing logic / analysis |
Customer support |
Execution consulting |
Dark pool access |
Flexibility and sophistication of SOR |
Algo monitoring |
Average score |
6.52 6.21 6.69 5.97 6.25 6.11 6.34 6.21
KEY STATS Overall Outperformer: Category Outperformer: X13
6.69 Highest score( Customer support) |
5.90
Lowest score( Cost)
|
0.34
Most improved( Ease of use)
|
-0.16
Least improved( Execution consulting)
|
64 // TheTRADE // Q1 2025 |
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