U.S. Fixed-Income Investors Prefer J.P. Morgan for Trading

J.P. Morgan, Bank of America Merrill Lynch and Barclays — the top three firms on this year’s All-America Fixed-Income Research Team — land in the same places on Institutional Investor’s inaugural All-America Fixed-Income Trading Team.

We invited participants in the broader research survey to name up to four firms that they feel provide the best trading services for U.S. fixed-income securities. (We also asked them to indicate which ones provide the best sales support; responses to that question were tabulated to produce our first All-America Fixed-Income Sales Team.) Credit Suisse, which ties for tenth place in research (with CRT Capital Group, Jefferies & Co., Morgan Stanley and RBS Securities), is No. 4 in the trading-services ranking, just ahead of Goldman, Sachs & Co., which ranks fourth in the broader survey.

Our question on trading services generated responses from 915 buy-side analysts and money managers at more than 430 firms that collectively manage some $8.8 trillion in U.S. fixed-income assets. Roughly 51 percent of the people who cast votes in the research team survey, representing 78 percent of the participating buy-side institutions, answered our question about trading services. To view the full list of winning firms, click on the Leaders link located in the navigation table on the right.

For information about how we compiled this ranking, click on Methodology.