Global Finance magazine named Morgan Stanley best in class in a number of categories in its annual rankings of the world's best investment banks and best derivatives providers. The awards ceremony took place on October 22 in Washington, D.C. in conjunction with the World Bank Group and the International Monetary Fund Annual Meetings.

Morgan Stanley was recognized for:

• Best M&A Deal: TXU
• Best M&A Bank: Western Europe
• Best Sector: Media & Entertainment
• Best Commodity Derivatives Provider: North America
• Best Commodity Derivatives Provider: Europe

In gauging investment banking, the editors said they took particular notice of those banks that top companies turned to in order to "get things done." Profitability, financial strength and the quality of staff were also assessed.

Determining the derivatives laurels had the editors looking at reporting and analysis. "The mix of these factors yields winners that may not be the largest, the oldest or the most diversified in the sector, but rather the best — the provider with which most companies around the world want to do business," they said.