Morgan Stanley Clears MPS Capital Services OTC Interest Rate Swaps On LCH.Clearnet

London —

Morgan Stanley, a market leader in derivatives trading and clearing, announced today that it has signed an agreement to be a clearing broker for MPS Capital Services. As part of this agreement, Morgan Stanley will clear a proportion of MPS Capital Services’ interest rate swap business through LCH. Clearnet Ltd (LCH).

“By signing this second clearing contract with Morgan Stanley, MPS Capital Services has completed the clearing project that we started at the beginning of 2010, which will allow a better management of possible credit events," said Matteo Bertotti, Head of Fixed Income Derivatives at MPS Capital Services.

"MPS Capital Services has demonstrated strong market leadership in OTC derivatives clearing. We welcome the opportunity to partner with it on this key initiative and provide the services and documentation that it needs,” said Andy Ross, Executive Director and European Head of OTC Client Clearing at Morgan Stanley. 

Morgan Stanley recently announced by that it has cleared some of the first OTC interest rate swaps transactions through LCH’s SwapClear Futures Commision Merchant (FCM) service for U.S. clients.

 

Morgan Stanley has been actively engaged in derivatives clearing for many years and provides clearing services for both OTC and Listed Derivatives for its clients globally.  The Firm currently offers OTC derivative clearing services at CME Group and ICE Trust in addition to LCH and connectivity to further OTC clearing houses will be added in the future in response to client demand.

Morgan Stanley 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 www.morganstanley.com.

MPS Capital Services Banca per le Imprese Spa

MPS Capital Services is the investment banking subsidiary of the Monte dei Paschi Spa Group. It was created in 2007 after the merger of the investment bank MPS Finance and MPS Banca per l’Impresa, the bank focused on Project Finance, Corporate Finance and Special Loans. MPS Capital Services offers to its Clients high level and specialised solutions for a wide range of financial and credit services with a focus on medium to long term credit, corporate finance, capital markets and structured finance.

Monte dei Paschi di Siena Group

Banca Monte dei Paschi di Siena, founded in 1472 is considered to be the oldest bank in the world. Nowadays Italy’s third largest banking group, the Bank holds significant market shares in all areas of business.

Through a wide presence over Italy and main international Financial Centres, with operations ranging from traditional banking activities to Private Banking and Corporate Banking, Monte dei Paschi Group focuses its attentions mainly on households and small to medium sized businesses. With approximately 31,000 employees and over 3,000 branches, the Monte dei Paschi Group offers its services to more than six million clients.

Media Relations Contact: Sebastian Howell, +44.207.425.5324