Morgan Stanley plans to build Bitcoin derivatives trading desk

posted 5 months ago
Morgan Stanley plans to offer trading in complex derivatives tied to the largest cryptocurrency, according to a person familiar with the matter, joining other Wall Street firms in creating ways for clients to play the digital currency market. The US bank will deal in contracts that give investors synthetic exposure to the performance of Bitcoin, said the person, who asked not to be identified.

The bank is already technically prepared to offer the Bitcoin swap trading, and will launch once there is proven institutional client demand and after the completion of an internal approval process, the person said. Morgan Stanley does not plan to trade Bitcoin directly and its swaps are tied to Bitcoin futures contracts, the person said. Chief Executive Officer James Gorman had said Morgan Stanley would build a trading desk to support various derivatives tied to digital assets.
Tags: bitcoin, news