Abel/Noser Solutions Ranks World's Best Brokerage Firms
Liquidnet Holdings, Inc. Ranks No. 1 and Morgan Stanley & Co. Ranks No. 2 for Best Global and Best North American Brokerage Firms
Credit Agricole and Macquaire Securities Lead European and Asian Pacific Rankings
NEW YORK, July 1, 2013 /PRNewswire/ -- Abel/Noser Solutions (ANS) today announced the release of its annual Global Broker Performance Study. The report ranks global brokerage firms on their ability to demonstrate best execution for clients and includes a breakdown of the top brokers in the North American, European and Asian Pacific regions. For the second year in a row, Liquidnet edged out traditional firms in both the Global and North American rankings, with Morgan Stanley coming in second. Credit Agricole and Macquaire Securities lead the European and Asia-Pacific Rankings.
The study evaluates brokers using placement strike price results that reflect the moment when the broker first received instructions from the buy-side trader. ANS measured brokers on placement strike price summary results for the largest brokers in each region. Brokers' performance was evaluated against their "trade-level" benchmarks to assess which brokers executed best when accounting for market conditions. To calculate trade-level benchmarks, ANS leveraged its proprietary universe of measured trades, consisting of over $7.5 trillion in trading from over 500 institutions globally.
"As the brokerage industry continues to consolidate, brokers are pursuing a variety of different strategies to pursue today's lower aggregate volume. We've seen some brokers do quite well this year by pursuing a slower, more holistic approach to trading or focus on crossing large blocks. Liquidnet is a good example," said Ted Morgan, Chief Operating Officer, ANS. "The pursuit of speed for its own sake does not appear to be the most important component of best execution. We've also seen brokers who offer consistently good results grow in market share."
This study only includes brokers who traded in more than one region. The largest broker in the survey executed trades valued in excess of $250 billion, while the smallest executed over $80 billion.
"Global equity brokers engage in a fierce competition for the billions of dollars of commissions at stake— commissions which impact investors' performance and contribute to brokers' profits," continued Morgan. "ANS' study reveals the '30,000-foot view' of global brokerage performance, underscoring our commitment to help clients evaluate their own broker trade cost analysis results."
The Global Broker Performance Study is available for a small annual subscription price. Please contact [email protected] or visit ancerno.com.
| World Rankings (Top 10) |
|||||
| Day Placement Strike (BP) |
|||||
| No. |
Broker Name |
Principal (USD) |
Result |
Benchmark |
Difference |
| 1 |
LIQUIDNET, INC. |
$61,814,931,222.37 |
-9.77 |
-13.89 |
4.12 |
| 2 |
MORGAN STANLEY & CO. INCORPORATED |
$213,285,980,230.87 |
-12.4 |
-13.98 |
1.57 |
| 3 |
JEFFERIES & COMPANY, INC. |
$35,309,928,753.09 |
-13 |
-12.42 |
-0.58 |
| 4 |
JPMORGAN CHASE |
$110,304,280,381.78 |
-16.54 |
-15.67 |
-0.86 |
| 5 |
GOLDMAN SACHS & CO. |
$164,306,887,723.54 |
-18.31 |
-17.36 |
-0.95 |
| 6 |
ROYAL BANK OF CANADA (RBC) |
$46,902,538,494.82 |
-21.06 |
-20.09 |
-0.98 |
| 7 |
NOMURA |
$25,068,470,731.60 |
-18.68 |
-17.41 |
-1.27 |
| 8 |
CITIGROUP |
$148,890,946,702.78 |
-15.89 |
-14.48 |
-1.41 |
| 9 |
BNY CONVERGEX GROUP |
$40,114,108,285.31 |
-16.82 |
-15.08 |
-1.75 |
| 10 |
INSTINET |
$33,322,974,999.45 |
-12.89 |
-11.05 |
-1.85 |
About Abel Noser Solutions
A sister company to Abel/Noser, Abel Noser Solutions was launched in 2007 to pioneer new trading methods and to provide broker-neutral pre-trade, real-time and post-trade tools to institutional investors. Each day, the company collects data from over 500 firms and records trading data for over 20,000 stocks that trade on over 100 exchanges to provide one of the most comprehensive views of the industry. Clients receive actionable analysis at every point in the trade lifecycle and on average pay commissions that are 44 percent lower than industry benchmarks.
Contacts:
Sharron Silvers / Taylor McGrann
KCSA Strategic Communications
212-896-1282 / 212-896-1253
[email protected] / [email protected]
SOURCE Abel/Noser Solutions
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