The transactions were executed through Tradeweb’s electronic execution platform and transmitted to LCH via MarkitWire, the first transactions to be executed and cleared in this manner, Morgan Stanley said.
Morgan Stanley provides clearing services for both OTC and listed derivatives for its clients globally.
The firm currently offers OTC derivative clearing services at CME Group and ICE Trust in addition to LCH and connectivity to further OTC clearing houses will be added in the future in response to client demand.
Morgan Stanley OTC Client Clearing global head and managing director Stephen O’Connor said that Morgan Stanley has been actively engaged in OTC derivatives clearing for over 10 years, and the firm fully supports current regulatory initiatives to expand OTC clearing from the inter-dealer market to the dealer-to-client market.
