Trading Teams

Overview Overall Leaders Category Rankings Attribute Rankings Sector Rankings

October 28, 2026

Stronger-than-expected activity levels and volumes have reshaped the global markets in 2026—as well as the trading and execution landscape in the U.S., according to the region’s top firms.

In 2026, global markets remained shaped by an active macro backdrop—rate and policy uncertainty, geopolitical headlines, and shifting risk appetite, confirmed Luiz De Salvo, head of global cash equities trading at J.P. Morgan. “Elevated volatility emerged in pockets, repositioning became more frequent, and demand for liquidity remained strong,” he added. “Activity rose broadly across regions in 2026, with APAC a meaningful driver of the increase.”

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Overall Leaders Category Rankings Attribute Rankings Sector Rankings

Morgan Stanley Extends Its Reign as No. 1 In U.S. Trading & Execution October 28, 2026

Methodology summary

All-America Trading & Execution

For the 2026 All-America Trading & Execution Team, Extel polled traders at asset management firms with investments in US equities. They were asked to rate their brokers in 7 categories across trading and execution. We received responses from 104 individuals at 94 firms. Voters also rated their brokers by attributes, with responses from 197 individuals at 182 firms.

All Trading & Execution scores were aggregated and weighted by the responding firm’s US commission range to create the overall US Trading & Execution Leaders tables.

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