Morgan Stanley
MSA includes applications that estimate pre-trade costs and evaluate post-trade costs using multiple benchmarks. MSA can be accessed directly by the end user and supplemented by a coverage desk to assist and consult in trading strategies and evaluations.
Asset classes and markets
MSA has global applications. It can evaluate equities, futures and exchange-traded funds.
Transaction data
The post-trade analysis tool within MSA will accept the following data: symbol, side, executed quantity, total order quantity, average price, currency, start date, start time, end date, end time and price scale. For trades executed with Morgan Stanley, the execution data will be automatically captured with the inclusion of a liquidity map that provides the user with added transparency, detailing the execution venue.
Benchmarks
Executed transactions can be evaluated using up to four user-selected benchmarks, which may include: prior close, open, arrival price, interval VWAP, full day VWAP, or participation weighted price at multiple levels. Trading data is organised in multiple categories including: country, market cap, spread, volatility, liquidity and trading strategy.
Reporting options
Post-trade reports can be run on a daily, weekly, or monthly basis, as well as a custom timeframe.
For orders executed with Morgan Stanley, detail can be provided down to the execution level. Formatting changes can be customised to accommodate customer requests or clients can access their data through a number of existing templates.
Consultancy services
Morgan Stanley’s coverage team is available for trading consultation and review of execution performance.
Pre-trade analysis
The pre-trade tool allows the user to quickly identify the characteristics, risk exposures, and projected cost outliers of a portfolio or trade program. MSA also provides ‘what-if ‘ analysis to evaluate the potential impact of adjustments. Pre-trade analysis can be sorted and reorganised in multiple views upon user interaction. MSA provides functionality to export data in spreadsheet format, as well as generate blind risk bid sheets.
Future plans
Morgan Stanley has a dedicated team continually working to improve its analytic tools, by evolving with market changes and client needs.