Morgan Stanley plans to open a new multilateral trading facility ( MTF ) based in Europe as it seeks to adapt its business model to changes introduced by MiFID II . The decision to open the facility , which will put the bank in direct competition with Goldman Sachs and UBS , in 2018 comes as Brexit exposes the bank to challengers to its dominance in Europe ’s capital markets . The move will pitch the bank into direct competition with rivals... Morgan Stanley generated higher returns from trading for institutional investors than any of its rivals in 2017 .
Morgan Stanley plans to open a new multilateral trading facility ( MTF ) based in Europe as it seeks to adapt its business model to changes introduced by MiFID II . The decision to open the facility , which will put the bank in direct competition with Goldman Sachs and UBS , in 2018 comes as Brexit exposes the bank to challengers to its dominance in Europe ’s capital markets . Morgan Stanley generated higher returns from trading for institutional investors than any of its rivals in 2017 .