Mar 8, 2011 | New York, Morgan Stanley, the market leader in derivatives trading and clearing house, announced today that it has cleared some of the first interest rate swaps transactions in OTC by LCH.Into Clearnet Ltd (LCH) SwapClear Futures Commission Merchant (FCM) service for U.S. clients.
"Today's announcement underlines the Morgan Stanley leadership role in the central clearing of OTC derivatives," said Stephen O'Connor, Executive Director and Global Head of OTC client Clearing at Morgan Stanley. "Morgan Stanley has been actively involved in OTC derivatives Clearing in over 10 years, and the company fully supports current legislative initiatives to expand OTC clearing from inter-dealer market to the dealer to client market. We have worked hard with our clients, clearing houses, industry associations and regulatory agencies towards achieving this objective. "Today's transaction is performed during Tradewebs electronic execution platform and transferred to LCH via MarkitWire, the first transactions carried out and cleaned this way.Morgan Stanley provides clearing services for both OTC and listed derivatives for their customers worldwide. The company currently offers OTC derivatives clearing services of CME Group and the ICE trust beyond LCH and connection to additional OTC Clearing House will be added in the future to respond to client demand. Morgan Stanley is a leading global financial services provides a wide range of Investment Banking, securities, investment management and wealth services. The company's employees serve clients worldwide including corporations, Governments, institutions and individuals from more than 1,200 offices in 42 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
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