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Goldman Sachs
Goldman Sachs’ overall average score in this year’ s survey was 5.56, which lands 38 basis points below the survey average of 5.54 and represents a decrease of 0.31 from 2025. On a category level, the majority of scores fall within the upper end of the good range( 5.00-5.99), with the broker achieving its highest scores in key areas such as speed( 5.91), increased trader productivity( 5.82) and ease of use( 5.81). Goldman’ s lowest performing aspect of service was customer support( 5.15).
In terms of year-on-year performance, reductions were recorded in all categories, ranging from-0.1 for speed to-0.62 for customer support and services. When compared against category benchmarks, Goldman Sachs experienced belowaverage scores across all functional service areas, most notably around customer support(-0.86) and execution consulting and algo monitoring( both-0.54). Other categories such as speed(-0.1), increased trader productivity, ease of use( both-0.14) and order routing logic(-0.19) were broadly in line in with benchmarks.
This year, Goldman Sachs received 78 responses from long-only managers – down from 93 in
2025 – which ranks fifth amongst its peers in terms of the number of submissions. Around 44 % of respondents were from large asset managers with more than $ 50 billion in AUM, whilst midsized firms managing $ 10 to $ 50 billion in assets represented 21 % of the respondent pool. The UK( 24 %) and Europe( 42 %) collectively represented 67 % of the responding traders, with the remainder split across North America( 26 %), APAC( 4 %) and the Middle East( 4 %). The most commonly used performance measurement metrics were VWAP TCA and implementation shortfall TCA. Lastly, 15 % of traders stated they expect to make use of additional algorithmic trading providers over the next 12 months.
Sample feedback from respondents included the following:
• Pleasing improvement in service and product over the last couple of years
• Demand for better block finding in dark venues and higher off-market crossing, such as SIs
• Smart algos that include the auctions
• AI- greater intelligence in working hard, small cap orders
GOLDMAN SACHS RATINGS FOR ALGORITHMIC PERFORMANCE
Increased trader productivity |
Reduced market impact |
Execution consistency |
Cost Speed Anonymity Price improvement Customisation |
5.82 5.68 5.54 5.60 5.91 5.49 5.60 5.27
Ease of use |
Order routing logic / analysis |
Customer support |
Execution consulting |
Dark pool access |
Flexibility and sophistication of SOR |
Algo monitoring |
Average score |
5.81 5.57 5.15 5.24 5.78 5.53 5.33 5.56
KEY STATS Overall Outperformer: NO Category Outperformer: NO
5.91 Highest score( Speed) |
5.15 Lowest score( Customer Support) |
-0.10
Most improved( Speed)
|
-0.62
Least improved( Customer Support)
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70 // TheTRADE // Q1 2026 |
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