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Banking

2010 Awards for excellence: Best Global commodities house

The firm’s experience allows it to develop the best new products and execute the most impressive deals.


Awards for Excellence 2010
Best Global commodities house: Morgan Stanley
Also nominated: Barclays Capital and Deutsche Bank

Commodities markets as a whole have been less volatile during the past 12 months than in the previous year. Nevertheless, as low interest rates push investors towards new ways of seeking alpha, the asset class continues to grow in complexity. Banks have continued to expand their physical and financial commodity-trading capability.

JPMorgan’s acquisitions in commodities have not relented. In mid-June, JPMorgan received EU approval to buy the non-US assets of RBS Sempra for $1.7 billion, following on from its purchase of UK carbon-credit firm EcoSecurities late last year for $204 million.

Barclays Capital, Deutsche Bank, and Morgan Stanley have made less noise through acquisitions. But the deals in which these banks were involved, and the products they developed, did more to advance the market.

Morgan Stanley was most impressive in this regard. Despite the efforts of rival banks, its commodities business has not been eclipsed.

Compared with its competitors, Morgan Stanley’s physical trading infrastructure, for example, is more developed and the bank has more experience in using this infrastructure.

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