Best Brokerage: Goldman Sachs

While the less-than-complimentary press coverage of Goldman Sachs has yet to fully subside—both in the US and internationally—it’s clear that Wall Street firms still have a lot of respect for the old bank. This marks the fifth year that Waters has handed out an award for the industry’s best brokerage, and this is the fifth time that Goldman Sachs has walked away as the winner. That’s a pretty impressive record. 

Goldman has, at times, been raked through the coals by the consumer media and politicians for its business practices, but from a technology standpoint there is no denying that it is at the head of the class. Goldman’s deep toolbox of products includes its lauded execution management system RediPlus, the Sigma X crossing network and Sigma smart router, Goldman Sachs Algorithmic Trading (GSAT), and its recently launched derivatives clearing services (DCS) business. And, as with most of its technology, Goldman manages risk—pre-, intra- and post-trade—within its four walls rather than turning to a third party.

1 Goldman Sachs (19.4%)
2 Morgan Stanley (12.6%)
3 JPMorgan (11.9%)