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Executive Summary

This report provides detailed information from North America-based investors investing in equity derivatives, including helpful benchmark data such as:

  • Product usage
  • Important selection criteria
  • Concentration of business
  • Notional trading value

Graphic slides include:

  • Option & Volatility Product Usage
  • Delta One Product Usage
  • Concentration of Options and Volatility Product Commission Business 
  • Most Important Selection Criteria for Options Trading
  • Importance of Broker’s Cash Equity Ranking in Determining Options Trading Allocation
  • Range of Execution Commissions Paid on Equity Options Trades – Past 12 Months
  • Range of Notional Value Traded in Single-Stock Options – Past 12 Months
  • Range of Notional Value Traded in Index Options – Past 12 Months
  • Requirement of Brokers to Commit Capital for Options Trading 
  • Proportion of Options Contract Trading Volume Done via Exchange-Traded Contracts vs. OTC Trades
  • Most Important Selection Criteria for Electronic Trading of Options 
  • Concentration of Equity Swaps Business
  • Range of Notional Value Traded in Equity Swaps – Past 12 Months
  • Proportion of Overall Equity Swaps Done via Index Swaps vs. Single-Stock Swaps
  • Most Important Selection Criteria for Equity Swaps Trading 
  • Concentration of ETF Commission Business
  • Range of Commission Spend on ETFs – Past 12 Months
  • Most Important Selection Criteria for ETF Trades
  • Concentration of Futures Execution Commission Business
  • Range of Execution Commission Spend on Futures Trades – Past 12 Months
  • Preferred Sales Coverage Structure Across Products/Asset Classes
  • Range of Notional Value Traded in Structured OTC Equity/Securitized Products – Past 12 Months

 

Methodology

Research is based on in-person and telephone interviews with 147 respondents between May and June, 2015. The data in this report is based upon aggregated results from individuals participating in the study.

Buy-side institutional investors were asked to provide quantitative and qualitative evaluations of the broker-dealers they use as well as detailed information on important market trends.