Morgan Stanley has launched a new algorithm trading product for flow-weighted average pricing (F-WAP). The over-the-counter (OTC) solution, dubbed Morgan Stanley Fix, is designed to protect institutional clients from the chance of trading on extreme prices in foreign exchange (FX) execution.
Paul Aston, executive director at Morgan Stanley, says that clients making currency transactions can "incur significant additional cost" when trading on extremes. Fix will provide a tool for currency executi
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