Morgan Stanley improved its ranking in the Euromoney 2010 FX survey, moving into the top 10, with the number-one ranking for the Most Improved by Market Share Qualitative categories for Nordic & Baltic Currencies and Americas Timezone.

In its write-up, Euromoney acknowledged that Morgan Stanley's investment in people and technology is starting to pay off.

"With an increased public profile, Morgan Stanley is back at number 10, and is one of the top 10 banks with improved market share," the editors wrote. "Investing in people and technology is only the first step in building up its FX business, but Morgan Stanley believes it has the tools and the commitment to succeed."

According to the editors, Morgan Stanley Matrix has "generated a huge amount of interest. Although Matrix is still undertaking a global roll-out, clients are seeing the benefits and this has been reflected in Morgan Stanley's e-commerce poll result."