Morgan Stanley
Morgan Stanley feeds hunger for Gilt-backed products
Morgan Stanley has launched a new UK government bond backed plan and re-issued three other plans, one of which is the third in a series of Gilt-backed issues, designed to mitigate counterparty risk.
RH Donnelley LCDSs settle in line with analyst expectations
An auction to cash-settle loan credit default swaps (LCDSs) referencing North Carolina-based commercial search firm RH Donnelley produced a recovery rate of 78.125%. Auctions to cash-settle LCDSs on two of the firm's subsidiaries, Dex Media East and Dex…
US Wrap: Providers opt for external credit
Providers were looking to independent credit agencies to issue structured products as the US structured products market hit mid-week. Both Goldman Sachs and Morgan Stanley teamed up with Eksportfinans to issue their latest products, which included an…
Treasury silent on Tarp as banks submit $75bn SCAP capital plans
The 10 financial institutions identified as requiring additional capital under the US Treasury's Supervisory Capital Assessment Program (SCAP) economic stress tests have submitted plans describing how they intend to raise almost $75 billion in funds to…
New heads of global listed derivatives for Morgan Stanley
Morgan Stanley has appointed Clark Hutchison and Bill Templer global co-heads of listed derivatives.
US Wrap: S&P 500 still dominates growth products
The S&P 500 continues to dominate growth products, despite the illusion of index diversity. Morgan Stanley launched a three-year leveraged participation note ahead of the weekend which linked to three indexes: the S&P 500, the Nasdaq 100 and the MSCI…
Tapping the Source
Goldman Sachs, Morgan Stanley and Bank of America Merrill Lynch took a look at the exchange-traded product market, particularly in Europe, and decided that to enter as a provider they needed scale. So the three got together and created Source. Richard…
Struggling to survive
Cover story
Morgan Stanley pays £1.4M fine, uncovers three rogue traders
Losses and Lawsuits
FSA bans second Morgan Stanley trader
The UK Financial Services Authority (FSA) has banned David Redmond after he put on a large unauthorised oil futures trade while on Morgan Stanley's freight desk in London in February last year.
Stress-test success masks bigger problem with banks
The US government's bank stress tests appear to have been successful in stabilising financial markets, but some market observers believe they are obscuring broader systemic problems and could hamper efforts to deal with toxic assets.
CDSs on US financials narrow
Market sentiment towards US banks improved today, with the cost of credit protection on six of the nation's largest financial institutions falling. The move came on the same day Bank of America (BoA) was reported to have raised $7.3 billion from selling…
US banks require $74.6 billion in additional capital, stress tests reveal
Ten US banks collectively require an additional $74.6 billion in additional capital to insulate against possible losses over the next two years, the results of US government stress tests show.
Market tense over stress-test results
Continued silence from US authorities on the results of bank stress tests has left markets and analysts alike fretting over which firms are in need of additional capital.
Trading and technical gains outweigh loan losses in Q1
Strong trading results have offset large loan losses as banks report a mixed bag of first-quarter results.
Marc Mourre
To celebrate its 15th anniversary, Energy Risk is talking with industry veterans who have been instrumental in shaping today's energy markets. This month Marc Mourre, managing director and vice-chairman of commodities at Morgan Stanley, talks with Stella…
Former Morgan Stanley VP in $2.5 million embezzlement
Losses & Lawsuits
Banks agree to EU CCP for clearing CDS
Nine major dealers agreed to use an EU central counterparty (CCP) for clearing trades in credit default swaps (CDSs) today, paving the way for talks to resume with the European Commission.
Operational risk experts ponder future of Basel II
The ongoing financial crisis has led risk professionals to question whether the Basel II framework needs to be modified to improve firms' ability to assess and manage risk. And while the general consensus is that revisions are needed, questions remain as…
Eurozone and US bank CDS spreads widen
UK and European financial institutions faced declining market sentiment in early trading today, while the cost of credit protection on US banks continued to rise.