Stocks

Morgan Stanley joins SMX as general clearing member

PTI Singapore | Updated on February 12, 2011

Morgan Stanley Asia (Singapore) Securities Pte Ltd has signed up as a general clearing member of the Singapore Mercantile Exchange (SMX).

The membership enables Morgan Stanley to trade, clear and settle both proprietary and customer accounts for its regional and global customers, including any other broker member or trade member of SMX, the Singapore exchange said today.

Commenting on the announcement, the Morgan Stanley Chief Operating Officer for South-East Asia, Mr Kapil Trikha, said: “Morgan Stanley recognises the importance of multi-asset class trading and also the significant role Singapore plays in the context of global financial markets. Through the SMX platform, we look forward to playing a key role in the development of commodity and derivative markets across Asia.”

The SMX Chairman, Mr Ang Swee Tian, said: “Morgan Stanley, which is an exceptionally well-diversified, borderless company, is a welcome addition to our expanding list of GCMs.”

“We are extremely enthusiastic to have a GCM of this high a calibre and we look forward to Morgan Stanley’s recognised expertise and global presence in investment banking and management for the cultivation and maturity of our trans-Asian platform,” he added.

SMX provides multi-currency and multi-asset trading and clearing for products with guaranteed settlement and delivery.

Published on February 10, 2011

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