Following news of major US players looking to establish a member-owned equities exchange, industry experts agree the move could prove to be positive for markets, but warn the road ahead for MEMX may be a difficult one.
Morgan Stanley, Virtu Financial, Citadel Securities, UBS and Fidelity Investments are among the firms looking to establish a low-cost, transparent equities exchange.
CLSNet operates on a distributed ledger technology platform for automated bilateral payment netting of FX trades.
Integral currently has more than 200 financial institutions that use its technology services for FX businesses.
Five major market participants have cleared $200 million in notional of OTC SOFR swaps since CME launched the product in May this year.
Morgan Stanley has appointed a new head of cross divisional programs group to oversee the bank's large and complex programs in technology.
Jay Lee has been an executive director at US investment bank Morgan Stanley for the past eight years.
Morgan Stanley’s wealth management business will pay $3.6 million after one of its advisors stole $7 million from client accounts.
Former BAML global head of equities structured products to join Societe Generale in June.
Consortium aims to establish universal connectivity standards for industry desktop applications.