[ A L G O R I T H M I C T R A D I N G S U R V E Y ]
BofA Securities
BofA Securities’ overall average score in 2025 was 5.53, representing the lowest score amongst all providers featured in this report. Compared to 2024, BofA declined by-0.21 and lands-0.37 behind the survey average of 5.90. Following the negative trend, the broker showed declining scores in 11 categories compared to last year, including customisation(-0.57) and anonymity(-0.48). On the positive note, yearon-year increases were recorded in execution consulting(+ 0.05), increase trader productivity(+ 0.03) and price improvement(+ 0.02). BofA’ s highest scores were ease of use( 5.86), customer support( 5.74) and increase trader productivity( 5.73).
When compared across the survey benchmarks, BofA Securities underperforms in all 15 aspects of service under review, with two potential areas of concern that represent the lowest scores for those categories – anonymity( 5.58) which falls-0.47 below category average and order routing logic analysis( 5.29) which falls-0.40 below category average. Despite this all scores remain comfortably in the good range( 5.00 – 5.99), with the majority landing in the upper end of the scale.
This year, BofA Securities received 40 responses from hedge fund managers and firms using hedge fund strategies- down from 44 in 2024- which ranks the broker seventh amongst its peers in terms of submissions. Of these, 17.5 % stated they would make use of additional algo providers over the next 12 months. Around 30 % of hedge fund managers and firms using hedge fund strategies responding to this year’ s survey that do business with BoA Securities indicate they have more than $ 50 billion in AUM. The UK( 35 %) and Europe( 25 %) collectively represented 60 % of the respondents, with North America representing 25 % of the respondent pool. The most commonly used performance measurement metrics were VWAP TCA, implementation shortfall TCA and liquidity capture.
Sample feedback from respondents included the following:
• Happy with effective IS aggressive algo
• Requested smarter pair trade algo
• More liquidity seeking algos requested
BOFA SECURITIES RATINGS FOR ALGORITHMIC PERFORMANCE
Increase trader productivity |
Reduce market impact |
Execution consistency |
Cost Speed Anonymity |
Price improvement |
Customisation |
Ease of use |
5.73 5.57 5.62 5.61 5.54 5.58 5.66 5.18 5.86
Order routing logic / analysis |
Customer support |
Execution consulting |
Dark pool access |
Flexibility / sophistication of SOR |
Algo monitoring |
Average score |
5.29 5.74 5.50 5.45 5.36 5.27 5.53
KEY STATS
5.86 Highest score( Ease of use) |
5.18 Lowest score( Customisation) |
0.05
Most improved( Execution consulting)
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-0.57 Least improved( Customisation) |
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Issue 84 // thetradenews. com // 69 |