Clients of the investment bank Morgan Stanley will soon have an opportunity to gain access to sophisticated derivatives, tied to bitcoin.
According to Bloomberg, Morgan Stanley Banking Holding will provide its clients with the opportunity to trade swaps for total earnings from the dynamics of the bitcoin rate.
In fact, investors will be able to open long and short positions on swaps for common earnings (price return swap). The bank does not plan to trade the first cryptocurrency directly.
Such a step was made by the company six months after the appearance of information that Morgan Stanley will follow the example of Goldman Sachs and begin to deal with the clearing of bitcoin futures. Prior to this, Morgan Stanley CEO James Gorman announced that the organization is developing a unit to support derivatives, tied to different cryptocurrencies. In 2015, the bank’s CEO James Gorman said he was not going to give his customers the opportunity to directly buy and sell bitcoin, but would focus on developing a unit that would support derivatives tied to different digital assets.