Familiar names lead best-execution list; Morgan Stanley, Rochdale, Goldman Sachs and Fidelity at top of Plexus BrokerEDGE.(Trading)

Pensions & Investments, June, 2007

Byline: Isabelle Clary Institutional investors are more likely to get best-execution for their large U.S. equity orders with New York-based Morgan Stanley, Rochdale Securities LLC and Goldman Sachs Execution & Clearing LP or Boston-based Fidelity Capital Markets Services. These four firms top Investment Technology Group Inc.'s latest Plexus BrokerEDGE Universe survey for 2006 in their respective categories: full-service brokers; firms that provide research, including soft-dollar services; and firms that provide trade execution only.

(Goldman and Fidelity Capital were tied in the latter category.) Both Morgan Stanley and Rochdale occupied the top spots in ITG's prior four-quarter survey for the period ended Sept. 30, 2006, while Fidelity, a unit of National...

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