Morgan Stanley new General Clearing Member SMX

Morgan Stanley Asia (Singapore) Securities Pte Ltd has signed up as a general clearing member (GCM) of the Singapore Mercantile Exchange (SMX).

The membership enables Morgan Stanley to trade, clear and settle both proprietary and customer accounts for its regional and global customers, including any other broker member or trade member of SMX, the Singapore exchange said today.

Commenting on the announcement, Morgan Stanley's Chief Operating Officer for South-East Asia, Kapil Trikha, said: "Morgan Stanley recognises the importance of multi-asset class trading and also the significant role Singapore plays in the context of global financial markets. Through the SMX platform, we look forward to playing a key role in the development of commodity and derivative markets across Asia."

SMX Chairman Ang Swee Tian said: "Morgan Stanley, which is an exceptionally well-diversified, borderless company, is a welcome addition to our expanding list of GCMs."

"We are extremely enthusiastic to have a GCM of this high a calibre and we look forward to Morgan Stanley's recognized expertise and global presence in investment banking and management for the cultivation and maturity of our trans-Asian platform," he added.

SMX provides multi-currency and multi-asset trading and clearing for products with guaranteed settlement and delivery.