Commodity Derivatives House of the Year - Morgan Stanley

The Risk Awards 2007

In commodity markets that have traditionally been dominated by two firms, Morgan Stanley and Goldman Sachs, two dealers have now clearly emerged as leading challengers to the pair's hegemony. Alongside this year's Energy Derivatives House of the Year winner, JP Morgan (see page 38), Barclays Capital continues to consolidate its market standing and earn plaudits from clients for its sophistication and breadth of service.

Nonetheless, while it is likely that Morgan Stanley's 15% increase in