With a commission share of 9.5 percent in U.S. equity trading, Credit Suisse heads a list of Greenwich Leaders for U.S. equity trading share that includes high-touch and low-touch business, according to a study by Greenwich Associates of U.S. buy side institutions, released today.
Bank of America Merrill Lynch and J.P. Morgan are tied for second place with shares of 8.9 percent, and Goldman Sachs and Morgan Stanley, both with shares of approximately 8.5 percent.
These rankings are based on a survey conducted between December 2011 and February 2012, in which Greenwich interviewed 227 U.S. equity fund managers and 316 U.S. equity traders at buy-side institutions. Buy -side participants were asked to evaluate the sales, research and trading services they receive from their equity brokers and to report on important market practices and trends, according to the research and consulting firm.
In North American Portfolio Trading, Credit Suisse also took first place, with 12.1 percent of the trading, followed by Deutsche Bank with 10.3 percent, Morgan Stanley with 9.9. percent, Bank of America Merrill Lynch with 9.2 percent and Goldman Sachs with 8.9 percent.
For U.S. equity research and advisory, J.P. Morgan ranked first with 11.2 percent of the vote share, followed by Credit Suisse with 10.4 percent in second place. Bank of America Merrill Lynch ranked third with 9.4 percent, Goldman Sachs was fourth with 8.9 percent, and Morgan Stanley with firth with 8.6 percent.
In addition, J.P. Morgan and Morgan Stanley were singled out (but not ranked) for U.S. equity sales quality, as part of the Greenwich Quality Leader category. For U.S. equity trading quality, the following firms were highlighted in alphabetical order: Barclays, Credit Suisse, Goldman Sachs, J.P. Morgan and Morgan Stanley. Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio