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Morgan Stanley's New Internalization Move?

Traders Magazine, March 2002

Staff Reports

In a move some in the trading industry see as a prelude in internalizing order flow, Morgan Stanley recently ceased operations on the floor of the American Stock Exchange. Market observers have speculated that Morgan Stanley wants to re-direct its order flow to the Primex Auction System. "It is merely an attempt to automate our operations at this point," a Morgan Stanley official said privately. "Are we going to go for internalization? We're still looking at that," the official said.

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