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Morgan Stanley Traders Lost Money on 12 Days in Quarter

Morgan Stanley, whose traders posted the biggest second-quarter revenue jump among U.S. banks, disclosed that it lost money in that business on 12 days in the period, down from 15 a year earlier.

Traders generated more than $100 million on four days, up from three in the second quarter of 2012, the New York-based company said yesterday in a regulatory filing. None of the daily losses exceeded the bank’s so-called value-at-risk, an estimate of potential trading losses.