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.
Picking the Team To select the members of Institutional Investor’s inaugural All-America Fixed-Income Trading Team, we invited participants in the 2012 All-America Fixed-Income Research Team survey to name up to four firms that they feel provide the best trading services in the U.S.
We received 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.
We weighted votes by a respondent’s U.S. fixed-income assets under management and by the place awarded (first through fourth). The names of those surveyed and the institutions they work for are kept confidential to ensure their continuing cooperation. Voters must meet eligibility requirements and winners must achieve a minimum vote count. All ballots are subject to review by our Research Operations Group, and final results may be inspected by an independent auditor.
The 2012 All-America Fixed-Income Trading Team was compiled by Associate Editor Denise Hoguet, with the assistance of Researcher Jill Michalek, under the direction of Senior Editor Tucker Ewing and Research Managing Editor Thomas W. Johnson.