Morgan Stanley

Morgan Stanley Clears Client OTC Credit Derivative Swaps through ICE Clear Credit

Jul 18, 2011

New York —


Morgan Stanley, a registered Futures Commission Merchant and market leader in derivatives trading and clearing, announced that today it cleared OTC credit default swap transactions through the newly established ICE Clear Credit, formerly Ice Trust U.S., ICE's North American credit default swap (CDS) clearing house.

"The launch of ICE Clear Credit is an important development for the OTC clearing markets and Morgan Stanley’s participation underscores our leadership in the effort to establish central clearing for OTC derivatives,” said Stephen O'Connor, Managing Director and Global Head of OTC Client Clearing at Morgan Stanley.  “The Firm has been actively engaged in OTC derivatives clearing for over 10 years and is fully committed to current regulatory initiatives to expand OTC clearing to the dealer-to-client market.  We have been working with clients, clearing houses, industry associations and regulators toward achieving that goal and will continue to do so.”

Morgan Stanley provides clearing services for both OTC and Listed Derivatives for its clients globally.  The Firm currently offers OTC derivative clearing services for credit default swaps at ICE Clear Credit and CME Group in addition to interest rate swaps at LCH SwapClear and CME Group.  Additional connectivity to further OTC clearing houses will be added in the future in response to client demand.

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services.  The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,300 offices in 42 countries.  For further information about Morgan Stanley, please visit

Media Relations Contact: Lauren Onis, 212.761.5303