[ S U R V E Y | A L G O R I T H M I C T R A D I N G ]
JP Morgan
JP Morgan’ s overall average score in this year’ s survey was 5.72, a marginal increase of 0.05 from 2025, and maintaining the positive momentum overall from 2024. The broker records year-on-year increases across ten key aspects of service, including higher scores for anonymity( 0.27), price improvement( 0.26) and speed( 0.22). Meanwhile any decreases were relatively marginal, the most notable being-0.17 for customer support.
JP Morgan’ s highest scores were achieved in speed( 5.93), anonymity( 5.88) and cost( 5.85). When compared against survey benchmarks, the broker lands marginally short of the survey average of 5.94. On a category level, below average scores were recorded across all service areas, particularly customer support(-0.39), execution consulting(-0.31) and increase trader productivity(-0.30). It’ s worth noting however that these scores are in line with those received by other bulge bracket providers.
This year, JP Morgan received 116 responses – up from 107 in 2025 – which ranks second place in terms of the number of overall submissions from traditional asset managers. Almost half( 47 %) of long-only managers rating JP Morgan indicate they have more than $ 50 billion in AUM, followed by mid-sized firms at 23 %, managing assets of between $ 10 and $ 50 billion. The UK( 28 %) and Europe( 38 %) collectively represented 66 % of responding traders, with the remainder split across North America( 28 %), Asia-Pacific( 4 %) and the rest of the world( 3 %). Around 17 % of traders said they would be using additional algo providers over the coming 12 months. The most commonly used performance measurement metrics were VWAP TCA and implementation shortfall TCA.
Sample feedback from respondents included the following:
• Good access to exchanges with no downtime
• Calls for private rooms and trajectory crossing
• Demand for an algo that can pair a buy / sell and keep their progress % for % ideally with the capability of a spread limit
• Demand for additional data sharing on order status / fill details via FIX
JP MORGAN RATINGS FOR ALGORITHMIC PERFORMANCE
Increased trader productivity |
Reduced market impact |
Execution consistency |
Cost Speed Anonymity Price improvement Customisation |
5.76 5.75 5.66 5.85 5.93 5.88 5.76 5.45
Ease of use |
Order routing logic / analysis |
Customer support |
Execution consulting |
Dark pool access |
Flexibility and sophistication of SOR |
Algo monitoring |
Average score |
5.88 5.71 5.62 5.48 5.85 5.68 5.60 5.72
KEY STATS Overall Outperformer: NO Category Outperformer: NO
5.93 Highest score( Speed) |
5.45
Lowest score( Customisation features)
|
0.27
Most improved( Anonymity)
|
-0.17
Least improved( Customer support)
|
|
|
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Issue 87 // thetradenews. com // 73 |