NSX Securities LLC (NSXS) announced today that Morgan Stanley will act as the correspondent clearing firm for NSXS.
NSXS is the wholly owned outbound order routing broker-dealer and exchange facility of the National Stock Exchange, Inc. Under this agreement, Morgan Stanley will provide NSXS with clearing services and outbound order routing solutions.
The two firms have entered into this arrangement to maximize operational efficiencies at NSXS and to address specific cross-market routing strategies. Morgan Stanley has structured a complex clearing solution for cross-market trading planned for rollout Q1 2013.
"Morgan Stanley's leading-edge technology greatly assists in all facets of the modern exchange routing business and we are pleased to engage with them to leverage their unique and valuable services," said Francis Paulino, President of NSXS.
Morgan Stanley supports broker-dealers with a wide variety of services including international operations. The firm provides 24 hour coverage across all time zones and markets.
© Finextra Research 2013