Wayzata-Based Agency Trading Group Grabs #2 Ranking Amongst Industry's Top Equity Brokers
MINNEAPOLIS, Sept. 10, 2014 /PRNewswire/ -- For the fourth consecutive year, Agency Trading Group (ATG) was ranked in the top five for broker execution quality by Institutional Investor Magazine. In the most recent 2014 q2 rankings, ATG was ranked 2nd out of the top 50 U.S. brokers by difference in cost/savings against the Elkins/McSherry Arrival Price universe, the industry standard in measuring market impact. In Trades by Market Cap, ATG was ranked 1st in Microcap, 4th in both Small Cap and Midcap,and 3rd in Giant cap. In Trades by Order Size, ATG was ranked 2nd in orders of 10,000 shares or less, 4th for orders of 10,000-50,000 shares, and 6th for orders 50,000+ shares. In the Trades by Liquidity category, ATG was ranked 6th in orders of 0%-20% of daily volume, and 5th in both 20%-50% and 50%+ of daily volume.
"We continue to focus on trading efficiencies – that's what differentiates us from the competition," said John Whitaker, president of Agency Trading Group. "All too often brokers let cost drive their order flow. At Agency Trading we don't let cost get in the way of liquidity. Our edge is understanding the various order types that exchanges, dark pools, dealers, and algorithm providers offer and how to apply them in order to source liquidity. We constantly vet destinations in an effort to limit data leakage and improve performance. This process has allowed us to deliver superb best execution results for our clients on a consistent basis."
The industry rankings are part of Institutional Investor Magazine's 17th annual survey of transaction costs conducted by New York-based Elkins/McSherry, a subsidiary of Boston's State Street Corp. The survey measures a firm's trading costs against the average performance of 1,400 investment managers representing 96 buy-side institutions. The data points are based on an analysis of more than $598 billion in equities traded in US markets on a universe of 24,660 individual stocks.
Agency Trading Group was founded to provide clients a customer-centric, technology-rich environment that delivers proven results. ATG has spent the last 11 years establishing partnerships with the best technology vendors in the business to access liquidity in the U.S./Canadian equity and option markets and fixed income/credit markets.
BROKER RANKINGS
Ranked by difference in cost/savings against the Elkins/McSherry Arrival Price universe, based on the top 50 brokers in each category by U.S. dollar volume. Rolling four-quarter data as of June 30, 2014+B378. Source: Elkins/McSherry, a State Street company.
| All Trading |
||||||
| Global brokers |
U.S. brokers |
|||||
| Rank |
Broker |
Difference |
Rank |
Broker |
Difference |
|
| 1 |
Liquidnet |
-42.23 |
1 |
Stifel Nicolaus |
-32.9 |
|
| 2 |
Credit Lyonnais |
-33.36 |
2 |
Agency Trading Group |
-16.99 |
|
| 3 |
Morgan Stanley (MS) |
-17.11 |
3 |
Morgan Stanley |
-16.29 |
|
| 4 |
Sanford C. Bernstein |
-15.65 |
4 |
Sanders Morris Harris |
-13.03 |
|
| 5 |
Deutsche Bank |
-14.71 |
5 |
Liquidnet |
-12.33 |
|
| 6 |
UBS |
-13.28 |
6 |
State Street Bank |
-12.09 |
|
| 7 |
J.P. Morgan |
-12.97 |
7 |
Russell Imp. Services |
-11.98 |
|
| 8 |
BofA - Merrill Lynch |
-12.29 |
8 |
Robert W. Baird |
-11.27 |
|
| 9 |
Instinet |
-11.65 |
9 |
Bloomberg Tradebook |
-11.24 |
|
| 10 |
Russell Imp. Services |
-4.23 |
10 |
Weeden |
-10.04 |
|
| Trades by Order Size |
||||||||||
| Large orders: 50,000+ shares |
Medium orders 10,000- 50,000 shrs |
Small orders 10,000 shares or less |
||||||||
| Rank |
Broker |
Difference |
Rank |
Broker |
Difference |
Rank |
Broker |
Difference |
||
| 1 |
Sanders Morris Harris |
-19.08 |
1 |
Pavilion Global Markets |
-29.54 |
1 |
Morgan Stanley |
-42.43 |
||
| 2 |
Russell Imp. Svcs. |
-13.85 |
2 |
Morgan Stanley |
-18.92 |
2 |
Agency Trading Group |
-26.34 |
||
| 3 |
State Street Bank |
-12.05 |
3 |
UBS |
-17.52 |
3 |
BofA - Merrill Lynch |
-24.57 |
||
| 4 |
Weeden |
-10.79 |
4 |
Agency Trading Group |
-16.98 |
4 |
Liquidnet |
-23.42 |
||
| 5 |
WallachBeth Capital |
-10.93 |
5 |
State Street Bank |
-16.93 |
5 |
Wells Fargo Prime Svcs. |
-14.74 |
||
| 6 |
Agency Trading Group |
-9.94 |
6 |
Robert W. Baird |
-16.61 |
6 |
Weeden |
-12.33 |
||
| 7 |
Instinet |
-8.17 |
7 |
Bloomberg Tradebook |
-14.66 |
7 |
UBS |
-12.06 |
||
| 8 |
Bloomberg Tradebook |
-7.99 |
8 |
ITG |
-12.14 |
8 |
Russell Imp. Svcs. |
-11.18 |
||
| 9 |
Williams Capital |
-7.86 |
9 |
Wells Fargo Prime Svcs. |
-11.39 |
9 |
Sanford C. Bernstein |
-3.02 |
||
| 10 |
Susquehanna |
-7.83 |
10 |
Russell Imp. Svcs. |
-10.57 |
10 |
BTIG |
-1.93 |
||
| Trades by Market Cap |
||||||||||
| Microcap |
Small cap |
Midcap |
||||||||
| Rank |
Broker |
Difference |
Rank |
Broker |
Difference |
Rank |
Broker |
Difference |
||
| 1 |
Agency Trading Group |
-34.03 |
1 |
Craig Hallum Capital |
-22.54 |
1 |
ITG |
-29.09 |
||
| 2 |
Weeden |
-23.46 |
2 |
RBC Capital Markets |
-19.48 |
2 |
Russell Imp. Svcs. |
-23.7 |
||
| 3 |
Wells Fargo Prime Svcs. |
-17.59 |
3 |
ITG |
-14.62 |
3 |
Liquidnet |
-22.69 |
||
| 4 |
BNY ConvergEx |
-15.17 |
4 |
Agency Trading Group |
-14.57 |
4 |
Agency Trading Group |
-19.88 |
||
| 5 |
Bloomberg Tradebook |
-7.13 |
5 |
Bloomberg Tradebook |
-5.18 |
5 |
Weeden |
-14.62 |
||
| 6 |
Russell Imp. Svcs. |
-2.09 |
6 |
SG Americas Secs. |
-1.49 |
6 |
Wells Fargo Prime Svcs. |
-12.83 |
||
| 7 |
Aqua Securities |
-1.04 |
7 |
Russell Imp. Svcs. |
-1.13 |
7 |
Morgan Stanley |
-10.17 |
||
| 8 |
BTIG |
5.26 |
8 |
Wells Fargo Prime Svcs. |
0.96 |
8 |
BTIG |
-7.83 |
||
| 9 |
Meridian Equity Ptn. |
7.02 |
9 |
Morgan Stanley |
1.17 |
9 |
Deutsche Bank |
-1.54 |
||
| 10 |
Morgan Stanley |
9.12 |
10 |
WallachBeth Capital |
1.84 |
10 |
Themis Trading |
2.58 |
||
| Large cap |
Giant cap |
|||||
| Rank |
Broker |
Difference |
Rank |
Broker |
Difference |
|
| 1 |
UBS |
-15 |
1 |
Sanders Morris Harris |
-18.25 |
|
| 2 |
Morgan Stanley |
-14.54 |
2 |
Robert W. Baird |
-13.95 |
|
| 3 |
Citigroup |
-13.19 |
3 |
Agency Trading Group |
-9.79 |
|
| 4 |
Instinet |
-13.19 |
4 |
J.P. Morgan |
-9.66 |
|
| 5 |
Liquidnet |
-9.39 |
5 |
Morgan Stanley |
-4.79 |
|
| 6 |
Agency Trading Group |
-9.25 |
6 |
UBS |
-4.46 |
|
| 7 |
Wells Fargo Prime Svcs. |
-3.53 |
7 |
Weeden |
-3.13 |
|
| 8 |
Weeden |
-2.86 |
8 |
Russell Imp. Svcs. |
-2.89 |
|
| 9 |
Russell Imp. Svcs. |
-2.2 |
9 |
Wells Fargo Prime Svcs. |
-1.94 |
|
| 10 |
BofA - Merrill Lynch |
-0.84 |
10 |
Raymond James |
-1.89 |
|
| Trades by Liquidity |
||||||||||
| 0% - 20% of daily volume |
20% - 50% of daily volume |
50%+ of daily volume |
||||||||
| Rank |
Broker |
Difference |
Rank |
Broker |
Difference |
Rank |
Broker |
Difference |
||
| 1 |
Deutsche Bank |
-25 |
1 |
Liquidnet |
-32.45 |
1 |
Pavilion Global Markets |
-50.03 |
||
| 2 |
CSFB |
-20.4 |
2 |
Russell Imp. Svcs. |
-30.32 |
2 |
Stifel Nicolaus |
-35.6 |
||
| 3 |
Liquidnet |
-16.46 |
3 |
J.P. Morgan |
-26.88 |
3 |
William Blair |
-29.42 |
||
| 4 |
BofA - Merrill Lynch |
-15.52 |
4 |
Bloomberg Tradebook |
-16.31 |
4 |
Morgan Stanley |
-18.13 |
||
| 5 |
Wells Fargo Prime Svcs. |
-13.77 |
5 |
Agency Trading Group |
-12.06 |
5 |
Agency Trading Group |
-17.94 |
||
| 6 |
Agency Trading Group |
-12.58 |
6 |
WallachBeth Capital |
-9.9 |
6 |
Sanders Morris Harris |
-13.28 |
||
| 7 |
BTIG |
-12.4 |
7 |
Jefferies & Co. |
-8.79 |
7 |
Weeden |
-12.52 |
||
| 8 |
WallachBeth Capital |
-12.3 |
8 |
Susquehanna |
-8.48 |
8 |
Robert W. Baird |
-12.13 |
||
| 9 |
Jefferies & Co. |
-10.83 |
9 |
Williams Capital |
-7.76 |
9 |
UBS |
-11.88 |
||
| 10 |
Weeden |
-9.17 |
10 |
Weeden |
-7.4 |
10 |
State Street Bank |
-11.87 |
||
| Top Five US Agency Brokers |
||
| Trading costs benchmarked against full-day VWAP |
||
| Rank(1) |
Broker (2) |
Difference |
| 1 |
Liquidnet |
-29.09 |
| 2 |
Weeden |
-23.7 |
| 3 |
Bloomberg Tradebook |
-22.69 |
| 4 |
Fox River Execution |
-19.88 |
| 5 |
Agency Trading Group |
-14.62 |
(1) Rank is for the universe average in the 12 months, ending June 30, 2013, based on results before rounding.
(2) Includes brokers with greater than $1.5 billion in principal traded.
SOURCE: Institutional Investor Magazine December 2013/January 2014 issue & Elkins/McSherry
Contact: John Whitaker, 1-952-476-9500, [email protected]
SOURCE Agency Trading Group, Inc.
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