Sales of structured products in the US at Morgan Stanley dropped by 5.9% in 2023.
Morgan Stanley Finance, the issuance entity of Morgan Stanley (MS), amassed US$9.8 billion from 9,769 SEC-registered structured notes issued in 2023, down 5.9% year-on-year (YoY). The volume is 9.7% of the overall market which saw a total of US$101.1 billion booked in 2023, 8.1% increase YoY - J.P. Morgan, Citigroup and Goldman Sachs were ahead of MS with US$16.9 billion, US$11.6 billion and US$11.4 billion, respectively. At MS, the fourth quarter accounted for US$2.3 billion, 6.5% lowe