Morgan Stanley executes DMA trades in India
Published on July 21, 2008.
Investment bank Morgan Stanley has executed its first direct market access (DMA) trades in India through its electronic trading platform. The firm’s first DMA trade was completed on 11 July. This follows the announcement on July 14 that BNP Paribas had executed its first full DMA trade on India’s National Stock Exchange (NSE).
Morgan Stanley executed the trades after receiving formal approval to deliver DMA services to firms registered as foreign institutional investors for both equities and listed derivatives on the NSE, and for equities on the Bombay Stock Exchange (BSE). Morgan Stanley’s Passport Windows proprietary electronic trading application has been certified by both the NSE and BSE.
“Having DMA capability in this important market further enhances Morgan Stanley Electronic Trading’s global footprint, which is of critical importance to our clients,” said Scott Field-Marsham, managing director and head of electronic trading in Asia at Morgan Stanley, in a statement.
Parag Gude, managing director and co-head of equities in India at Morgan Stanley, added, “We believe the DMA product will be a strong compliment to our existing market leadership in sales trading and research.”
