2016 All-America Trading Team


Morgan Stanley Tops 2016 All-America Trading Team

Morgan Stanley & Co. is No. 1 on the 2016 All-America Trading Team, Institutional Investor’s exclusive annual ranking of the trading services providers preferred by asset managers that invest in U.S. equities. Goldman, Sachs & Co. and J.P. Morgan Securities share second place, while Bank of America Merrill Lynch lands at No. 4.

II’s newly expanded survey asked buy-side traders, market structure analysts and other financial professionals to rank their trading partners on a dozen attributes:

• Access to Unique Liquidity

• Algorithms

• Analytics (pre- and posttrade; transaction cost analysis)

• Block Liquidity/Counterparties

• Connectivity Across Asset Classes (credit, derivatives, foreign exchange)

• Direct Market Access

• Market Knowledge/Idea Generation

• Market Structure Analysis

• Preventing Information Leakage

• Price Improvements

• Responsiveness to Buy-Side Needs and Concerns

• Risk Management

Morgan Stanley finishes in the top three in 11 of the 12 categories, missing out only in analytics. Goldman Sachs and J.P. Morgan earn a top-three spot in nine of them; BofA Merrill, five.

Survey participants were also asked to vote for the sales traders and electronic-trading salespeople whom they feel provide exceptional service. Morgan Stanley’s Michael Cohen claims first place among sales traders, followed by Brendan Grady of Barclays Capital in second place and James (Chip) Clingham of Credit Suisse Securities (USA) in third.

Among electronic-trading salespeople, J.P. Morgan’s Charlie Whitlock is No. 1, and Katherine Sullivan and Anthony Pallone, both of Jefferies, capture second and third place, respectively.

Survey results reflect the opinions of 280 investment professionals at 232 firms that paid an estimated $5.28 billion in commissions for U.S. cash equities last year.

Click on the Leaders link in the navigation table at right to view the full list of ranked firms.

To see the top-ranked service providers in each category, click on the attribute name.

For rosters of the top salespeople by type, click on Sales Trader or Electronic-Sales Trader.

Additional information about how this ranking was compiled can be found by clicking on Methodology.

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