Steptoe Advises Morgan Stanley on Equity Investment in Eris Exchange

February 5, 2013

(February 5, 2013, New York) — Morgan Stanley (NYSE: MS) and Eris Exchange have announced that Morgan Stanley plans to make a strategic equity investment in Eris, a US 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.  Steptoe advised Morgan Stanley on the transaction.

Morgan Stanley is a global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services.  Eris Exchange is a futures exchange (Designated Contract Market) regulated by the CFTC.

The Steptoe corporate team was led by Washington partner Scott Katzman and New York partner Michael Rennock.  Partner Aaron Nocjar, also based in Washington, advised on the tax aspects of the deal.

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