Following my recent post about mysterious goings-on around Morgan Stanley's Matrix single-dealer platform, I've had an update from a source close to the project.

I am reliably informed that Matrix is not in fact experiencing performance problems, and I'm happy to set the record straight on that. Also, the giant development budget that I referred to covered not only the delivery platform, but also a large amount of work in related areas such as risk management, credit checking, liquidity aggregation and so on. It certainly makes much more sense in that context.

Matrix was a ground-breaking project that explored new and exciting SDP territory. It's good to know that it's still on track, and interesting to see several other banks starting to follow in its footsteps.