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Executive Summary

Review average commission rates across 77 markets. Desks were asked for their overall bundled rate; execution-only rates for high touch, portfolio and electronic trades; tack-on rates for high-touch, portfolio and electronic trades; and all-in blended rates across Developed, Emerging and Frontier markets.

Methodology

Between September and November 2017, Greenwich Associates canvassed heads of equity trading at North American, European and Asian institutions regarding typical commission rates paid across 77 markets. Desks were asked for their overall bundled rate; execution-only rates for high touch, portfolio and electronic trades; tack-on rates for high-touch, portfolio and electronic trades; and all-in blended rates across Developed, Emerging and Frontier markets.