BlackRock selects Morgan Stanley as swaps-clearing broker

02/24/2012 | Bloomberg

BlackRock, the largest money manager in the world, chose Morgan Stanley as a swaps-clearing broker as regulators require more trades to be routed through a clearinghouse. "We believe that [over-the-counter] clearing can help to reduce systemic risk and serve as an important mechanism to manage and reduce counterparty exposure for our clients," said Supurna VedBrat, co-head of market structure and electronic trading at BlackRock.

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