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Morgan Stanley, the world’s top merger adviser, may turn its remaining proprietary-trading group into an electronic client-trading unit, according to two people with knowledge of the matter.
A final decision hasn’t been made about the group, known as Equity Trading Lab, or ETL, said one of the people, who declined to be named because the talks aren’t public. New York-based Morgan Stanley said last month that it plans to break off its largest proprietary-trading group, Process Driven Trading, or PDT, as an independent advisory firm by the end of 2012. Mary Claire Delaney, a Morgan Stanley spokeswoman, declined to comment.
Morgan Stanley Said to Consider Making Proprietary Group a Client Business - Bloomberg
A final decision hasn’t been made about the group, known as Equity Trading Lab, or ETL, said one of the people, who declined to be named because the talks aren’t public. New York-based Morgan Stanley said last month that it plans to break off its largest proprietary-trading group, Process Driven Trading, or PDT, as an independent advisory firm by the end of 2012. Mary Claire Delaney, a Morgan Stanley spokeswoman, declined to comment.
Morgan Stanley Said to Consider Making Proprietary Group a Client Business - Bloomberg