Executive Summary

U.S. Equity Electronic Trading: A Look Back at 2019 and Into 2020 stat bar

Remember back in 2019 when equity trading was characterized by low volatility and static volumes? When the VIX hovered around 15 and rarely spiked above 20? How times have changed.

The relatively calm waters in 2019 still revealed interesting undercurrents.

Whether we are looking at the seemingly slow and steady increase of trading reported to the TRF, the unexpected increase of importance of low-touch service, the high satisfaction with dark pools, or the exceptional NPS for conditional orders, there were plenty of currents just out of sight.


Between July and September 2019, Greenwich Associates interviewed 51 U.S.-based buy-side equity traders regarding their electronic trading preferences.