Question of the Week - Jan 12th 2016

How does US commission change over time across institutional types?


Chart 1:  Commission trends in basis points for US trading across institutional client types  


  • Institutional commissions have been steadily declining year over year for all client types over the last 5 years
  • Hedge fund clients pay the highest commission rates while Pension Funds pay the lowest commission rates, on average
  • Hedge Fund and Mutual fund commission rates exhibit the largest relative declines
  • Spread between Hedge Fund and Pension Fund commission rates has narrowed recently


Commission in basis points for each client type is the average commission across Institutional dollar weighted average commission in basis points. Above statistics are based on ITG Peer Group database.Client type classification is based on Big Dough.2015 numbers are annualized based on the first 2 quarters.


Refer to ITG Peer Analytics for information on available ITG Peer Group database based analytics.

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