Morgan Stanley’s online trading system for wealthy clients is down


Source: Morgan Stanley

Morgan Stanley, one of the world’s biggest wealth managers, said its online trading portal for wealthy clients went down on Wednesday. 

The bank’s message for clients was to call a service representative to place trades, rather than using the company’s website. A spokeswoman for the New York-based firm declined to immediately comment. 

Retail brokerages have suffered sporadic outages this month amid unprecedented volatility and volume in markets amid the coronavirus crisis. Most notably, free-trading pioneer Robinhood was overwhelmed by traffic on several days, including one of the biggest days for gains on the Dow Jones. 

When Morgan Stanley announced last month it was purchasing online brokerage E-Trade for $13 billion in stock, part of the rationale for the deal was to acquire the company’s retail trading technology. 

This story is developing. Please check back for updates.

Products You May Like

Articles You May Like

SpaceX is manufacturing 120 Starlink internet satellites per month
Kodak shares tank more than 40% as government loan is put on pause while allegations investigated
The unemployment rate fell in July. Here’s why that’s important
Fintech funding in Asia failed to rebound in the second quarter, report says
Buffett buys back record $5.1 billion in Berkshire stock as coronavirus hits operating earnings

Leave a Reply

Your email address will not be published. Required fields are marked *