Are these the best places to work in algorithmic trading?

Last month, The Trade News issued its first ever awards for algorithmic trading. If you work in, or aspire to work in, the fast-growing area of algorithmic trading, the results could be taken as a signpost of where to send your CV.

The big winners were UBS, Credit Suisse, and ITG, an electronic agency broker.

UBS won the most accolades overall. Credit Suisse won awards for improving trader productivity, reducing market impact and execution consistency, and ITG won for ease of use, consistency with pre-trade estimates and price improvement.

All winners, in all categories, are listed below.

One recruiter focused on the algorithmic trading arena, confirms that the awards provide a fair indication of the best places to have on your CV.

"ITG, UBS and Credit Suisse are three of the top five," he says. "I'd say that the other two are Goldman and BofA Merrill."

He says the Swiss banks' strength in algorithmic trading tends to be self-perpetuating. "UBS and Credit Suisse have got some very strong people, and that attracts a strong calibre of candidate."

Names to watch out for at UBS include Tim Wildenberg, head of direct execution in Europe. Chris Marsh is his counterpart at Credit Suisse.

Where the algorithmic trading awards went:

Bank of America Merrill Lynch

· US customers

· Leading customers

Credit Suisse

· Improving trader productivity

· Reducing market impact

· Execution consistency

Goldman Sachs

· Customisation

Deutsche Bank

· European customers

ITG

· Ease of use

· Consistency with pre-trade estimates

· Price improvement

Morgan Stanley

· Cost

· Anonymity

UBS

· Internal crossing

· Speed

· UK customers

· Asian customers

Ones to watch:

CA Cheuvreux

· Overall performance

Instinet

· Scale of business