For the fourth successive year, Morgan Stanley has taken top honors in the Global Investor Magazine's 2007 ranking of FX providers.

Global Investor, a Euromoney Publication, surveyed more than 700 institutional investors — excluding banks and broker dealers — from around the globe across a wide range of categories. Morgan Stanley received first-place rankings in 15 of 34 categories, eclipsing the score of its nearest competitor in the "Best FX Service Overall" category. Morgan Stanley also received top honors for "Most Improved Service Overall."