Almost half of buy-side traders say their primary consideration when using brokers’ smart order routers (SORs) is that orders are routed to support best execution, rather than covering sell-side costs. A total of 47% of respondents to theTRADEnews.com’s June poll indicated that rebates for placing liquidity on trading venues should not skew routing by SORs at the expense of best execution.
“These results are very consistent with feedback we have received from our institutional clients,” said Michael Seigne, head of European algorithmic trading, Goldman Sachs. “Clients want to be sure that their brokers are prioritising client order execution quality over and above the brokers’ own cost when optimising smart order routers.”
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