Morgan Stanley Matrix pushes new boundaries

Morgan Stanley’s focus on delivering market-leading quantitative analysis tools through its fixed income e-commerce platform started to pay dividends last year. Facing stricter regulations and tighter profit margins, a growing spectrum of clients are using Matrix’s advanced functionality for unrivalled pre and post-trade transparency and to enter the world of algorithmic trading. Caroline Henshaw spoke to David Wright, head of FX electronic distribution and product development in Europe & the US, and Pete Eggleston, head of Quantitative Solutions and Innovations (QSI), about how the bank is tailoring its unique tool set to the needs of its clients.

First Published: e-Forex Magazine 56 / Platform Profile / April, 2014

Pete Eggleston“Last year we tripled the number of clients trading our algo products, which coincided with us launching a unique set of decision support tools for algorithmic trading.”What does Morgan Stanley offer in FX trading that competitors don’t? DW: Morgan Stanley’s differentiator is our focus on understanding our client’s needs, partnering with them, and applying our offering to suit those needs. For many clients, Matrix is a critical part of that offering across all or part of their pre-trade, trade and post trade flow. For example, a client may take advantage of our market leading pre- and post-trade Transaction Cost Analysis (TCA) on Matrix, but allocate through a third party.  Matrix is our storefront, but behind it are robust services available to our clients’ particular workflow.    A number of clients are reassessing their execution methodology and are looking for a combination of enhanced execution via products like algos, while at the same time...continued

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