- Morgan Stanley ( NYSE: MS ) has started trading listed FX at Eurex, part of the the Deutsche Börse Group ( OTCPK:DBOEY ), joining a growing number of market participants at Eurex who are moving their business to the exchange or combining OTC and exchange-listed FX trading by using so-called "Exchange-for-Physical" ("EFP") services, Eurex said.
- By using EFP services, asset managers can swap OTC trades into exchange-traded and centrally cleared contacts, and in the process remove uncleared exposure and optimize capital allocation, Eurex said.
- "The intersection of OTC liquidity, FX-specific execution strategies, and high-quality market making all wrapped in a cleared instrument has a powerful value proposition," said Richard Condon, Morgan Stanley ( MS ) managing director and head of FX Investor Sales. "Central clearing can also reduce the need for bilateral credit, settlement relationships or lengthy onboarding cycles."
- Eurex FX reached more than 390,000 contracts in Q2 2022, exceeding its record of 374,000 contracts in Q1, the company said earlier this month.
- In Morgan Stanley's ( MS ) Q2 earnings, Fixed Income and Equity results helped to offset weaker investment banking activity.
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Morgan Stanley starts trading listed FX at Eurex