Asset managers that invest in Latin America prefer the trading services provided by global banks, which for a second straight year win four of the top five spots on Institutional Investor’s Latin America Trading Team.

Bank of America Merrill Lynch and J.P. Morgan hold steady in first and second place, respectively. Morgan Stanley and Credit Suisse trade places, with the former now at No. 3 and the latter at No. 5.

BTG Pactual, the highest-ranked regional firm for a second year running, repeats in fourth place. Other regional banks that make the team include Itaú BBA and Santander, at No. 6 and No. 7, respectively, for a second straight year. Bradesco Corretora debuts in ninth place.

We invited participants in the 2013 Latin America Research Team survey to name up to four firms that they feel provide the best trading services in the region, and we received responses from nearly 400 investment professionals from 260 buy-side institutions that manage roughly $258.8 billion in Latin American equities. Those figures represent approximately 52 percent of the people who cast votes in the broader research survey and about 65 percent of the participating buy-side institutions.