The Tradetech Daily

Morgan Stanley

Morgan Stanley

Morgan Stanley Electronic Trading (MSET) offers direct market access (DMA) and algorithmic capabilities in equities, listed options, futures, and swaps in over 50 countries. The MSET trading platform and risk management tools are fully customisable. MSET also connects to Morgan Stanley’s swaps platform and stock loan systems seamlessly.

Asset classes and markets

Morgan Stanley’s transaction cost analysis (TCA)
covers equities, exchange traded funds, and futures across all the markets in
which Morgan Stanley trades.

Transaction data

Morgan Stanley’s transaction data spans 2007 to the


Morgan Stanley offers the following benchmarks:
full-day and interval VWAP, arrival price, trade-date open, previous close,
participation-weighted price, and trade-date close. Reversion metrics are also

Reporting options

Morgan Stanley
distributes analytics via the Morgan Stanley Analytics website (MSA) and via
its execution system Passport. The TCA reports, which can be generated for any
time period, include summary statistics and specific order details with outlier
information, and also dark pool and smart order routing statistics. Customised
reporting to cater to specific client formatting, benchmark and data
requirements is also available.

Consultancy services

Morgan Stanley’s traders, portfolio traders and
MSET sales and coverage teams use the pre-trade and TCA analytics to help
clients achieve best execution by consulting on market structure and execution

Pre-trade analysis

Morgan Stanley offers pre-trade analysis through
MSA, including estimated market impact and execution risk, historical
performance data and expected completion time and trade trajectory.

Future plans

Morgan Stanley will introduce new benchmarks and benchmark calculation methodology, and its TCA products will introduce more detailed venue analysis.