Morgan Stanley — Passport

Morgan Stanley — Passport

The system offers a customisable front-end application with workflow and speed execution features such as hot buttons and single-click trading. Clients can customise the interface themselves or give their requirements to a coverage desk for provision of a tailored interface solution.

Passport provides full protection of client orders and information pre-, intra- and post-trade, plus complete transparency on how client orders are routed and where trades are executed. The system supports FIX versions up to 4.4.

Clients

Morgan Stanley’s Global Electronic Trading team has
offices in six countries including Australia, Hong Kong and Japan offering a
24-hour service.

Connectivity and functionality

Passport provides access to markets in over 50
countries worldwide. In Asia, countries covered include Australia, Hong Kong,
India, Indonesia, Japan, Malaysia, Singapore, South Korea, Taiwan and Thailand,
while New Zealand and the Philippines will be added soon.

The system can tap dark, grey and lit liquidity
simultaneously and the execution management system accesses a variety of
customisable benchmark algorithms, including VWAP, target percentage of volume
and arrival price strategies. It also uses specialised algorithms including
portfolio and pairs trader strategies.

Custom one-way and two-way FIX solutions can be configured
based on specific client requirements to order management systems.

Pre- and post-trade analytics

Passport provides access to Morgan Stanley
Analytics (MSA) to help clients manage each step in the lifecycle of the trade.
MSA provides pre-trade analytics, detailed order entry, order flow management
and post-execution performance measurement.