[ A L G O R I T H M I C T R A D I N G S U R V E Y ]
Kepler Cheuvreux
Kepler Cheuvreux achieved an overall average of 6.16 in this year’ s survey, landing 26 basis points above the survey average of 5.90 and securing the third spot in overall performance. The broker saw a year-on-year increase in all bar two categories, recording significant upticks in execution consulting(+ 0.55), algo monitoring(+ 0.52) and execution consistency(+ 0.34). The least improved category was customer support, which declined by-0.10. In terms of outperformance, Kepler surpasses the benchmarks across 14 of the 15 categories under review, achieving high scores in key areas such as execution consulting(+ 0.47), customisation(+ 0.45) and cost(+ 0.30). In fact, the broker lands within the top three scores of all providers profiled in ten aspects of service, highlighting client satisfaction across the board.
Kepler Cheuvreux’ s recent focus has been on strong growth and innovation. Its algorithmic trading offering, KCx now serves over 650 clients on the buy-side and continues to expand. Most recently, the broker introduced DynVWAP, an enhanced VWAP algo that leverages proprietary models to enable intraday adjustments, helping to minimise tracking error and reduce standard deviation. In parallel, Kepler’ s new flagship liquidity-seeking algorithm, Pulse, is now live with over 600 clients and is designed to help traders navigate the evolving equity trading landscape, tapping into conditionals, blocks and large in scale( LIS) venues, as well as traditional lit markets.
This year, Kepler Cheuvreux received 25 responses from hedge fund managers and firms using hedge fund strategies, up from 21 responses received in 2024. In terms of AUM, 44 % of responding clients hold upwards of $ 10 billion in assets. The UK( 36 %) and Europe( 52 %) collectively represented 88 % of the respondents, with North America representing the remainder at 12 %.
Sample feedback from respondents included the following:
• Great execution and a great support staff
• Request for more access to dark pools
• Request for API and more information / data to support trading
KEPLER CHEUVREUX RATINGS FOR ALGORITHMIC PERFORMANCE
Increase trader productivity |
Reduce market impact |
Execution consistency |
Cost Speed Anonymity |
Price improvement |
Customisation |
Ease of use |
5.92 5.90 6.30 6.15 6.07 6.23 6.02 6.19 6.32
Order routing logic / analysis |
Customer support |
Execution consulting |
Dark pool access |
Flexibility / sophistication of SOR |
Algo monitoring |
Average score |
6.08 6.26 6.23 6.22 6.21 6.26 6.16
KEY STATS Overall Outperformer: Category Outperformer: X14
6.32 Highest score( Ease of use) |
5.90
Lowest score( Reduce market impact)
|
0.55
Most improved( Execution consulting)
|
-0.10
Least improved( Customer support)
|
|
|
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Issue 84 // thetradenews. com // 75 |