[ 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
Bank of America Securities’ overall average score in this year’ s survey was 5.75, which represents an uptick of 22 basis points compared with 2025. The broker records increasing scores in 13 out of the 15 categories under review, with significant year-over-year increases in customisation features(+ 0.65), routing logic analysis(+ 0.43) and cost(+ 0.42). At the other end of the scale, declines were recorded in ease of use(-0.13) and price improvement(-0.08). When compared against the survey benchmarks, BofA falls short of the survey average( 6.03) by 28 basis points, with smart order routing(-0.47), speed(-0.44) and algo monitoring(-0.42) performing least well.
This year, BoA Securities received 32 responses from hedge fund managers and firms using hedge fund strategies, reflecting the continuation of the downward trend of 40 in 2025 and 44 in 2024. That said, the broker was able to maintain its ranking at seventh place in terms of submission numbers. Large firms managing upwards of $ 10 billion in AUM represented 25 % of the total, while mid-sized firms with $ 1 to $ 10 billion in AUM form the bulk of respondents at 50 %. As in 2025, the UK( 38 %) and Europe( 22 %) collectivity represented 60 % of responding traders, with the remainder split across North America( 22 %) and APAC( 19 %). On performance measurement, clients of BofA use a fairly even spread across the four main methods; VWAP TCA( 53 %), IS TCA( 50 %), liquidity capture( 41 %) and mean reversion( 34 %). Lastly, almost one in five respondents( 19 %) indicated they were looking to make use of additional algo providers within the next 12 months.
Sample feedback from respondents included the following:
• Least impactful darks
• Request for access to private rooms and trajectory crossing functionality
• Demand for smarter algorithms that seamlessly integrate auction participation
BOFA SECURITIES RATINGS FOR ALGORITHMIC PERFORMANCE
Increase trader productivity |
Reduce market impact |
Execution consistency |
Cost Speed Anonymity |
Price improvement |
Customisation |
Ease of use |
5.78 5.77 5.71 6.03 5.70 5.90 5.58 5.83 5.74
Order routing logic / analysis |
Customer support |
Execution consulting |
Dark pool access |
Flexibility / sophistication of SOR |
Algo monitoring |
Average score |
5.72 5.94 5.65 5.81 5.50 5.56 5.75
KEY STATS
6.03 Highest score( Cost) |
5.50
Lowest score( Flexibility and sophistication of SOR)
|
0.65
Most improved( Customisation)
|
-0.13 Least improved( Ease of use) |
|
|
|
Issue 88 // thetradenews. com // 69 |