Morgan Stanley to Take Strategic Equity Stake in Eris Exchange

Morgan Stanley

and Eris Exchange announced today that Morgan Stanley plans to make a strategic equity investment in Eris, a U.S. futures exchange that offers Interest Rate Swap Futures. Morgan Stanley also plans to participate on the exchange as a provider of liquidity and clearing services. Financial details were not disclosed. As part of the arrangement, which is expected to close in early 2013, Morgan Stanley will join the board of directors of the exchange holding company.