[ S U R V E Y | A L G O R I T H M I C T R A D I N G ]
BofA Securities
BofA Securities overall average score in this year’ s survey was 5.79, an increase of 0.15 from 2025, yet short by the same amount to cross the survey average score of 5.94. Higher scores were recorded across thirteen of the fifteen service areas under review in 2026 over 2025, with the largest year-on-year increases being in key capabilities such as reduced market impact( 0.33), as well as increased trader productivity and customisation features, which both recorded a 0.32 uptick.
The broker achieves its highest scores in increasing trader productivity( 5.98), customer support( 5.96) and ease of use( 5.95). BofA Securities’ lowest scores were in price improvement( 5.57), followed by routing logic analysis( 5.61). When compared against category benchmarks, BofA experienced above-average scores in customisation features(+ 0.03).
This year, BofA Securities received 68 responses from long-only managers – up from 66 in 2025 – which ranks the bank tenth amongst its peers in terms of the number of submissions. Of these over 41 % manage assets of $ 50 billion and upward.
In terms of where traders sit, the UK( 16 %) and Europe( 28 %) collectively represented 44 % of the respondents, with the remainder split across North America( 28 %), Asia-Pacific( 4 %) and the rest of the world( 4 %). Just 13 % of traders using BofA said they expect to make use of additional algorithmic trading providers in the next 12 months. The most commonly used performance measurement metrics were VWAP TCA and implementation shortfall TCA.
Sample feedback from respondents included the following:
• Algo suite adaptable to market conditions and a great team dedicated to taking in buy-side feedback
• Remarks that performance and usage is driven by the US product, with Europe catching up
• Some of the best algo analytics on the street
• Demand for Pairs- Cash Neutral / Percentage
Neutral Ratio
• Demand for Smart algos that include the auctions
• Demand for additional data sharing on order status / fill details via FIX
BOFA SECURITIES RATINGS FOR ALGORITHMIC PERFORMANCE
Increased trader productivity |
Reduced market impact |
Execution consistency |
Cost Speed Anonymity Price improvement Customisation |
5.98 5.89 5.76 5.75 5.82 5.82 5.57 5.79
Ease of use |
Order routing logic / analysis |
Customer support |
Execution consulting |
Dark pool access |
Flexibility and sophistication of SOR |
Algo monitoring |
Average score |
5.95 5.61 5.96 5.62 5.93 5.83 5.65 5.79
KEY STATS Overall Outperformer: NO Category Outperformer: X1
5.98 Highest score( Increased trader productivity) |
5.57 Lowest score( Price improvement) |
0.33
Most improved( Reduced market impact)
|
-0.10
Least improved( Execution consulting)
|
68 // TheTRADE // Q1 2026 |
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