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Derivatives

Morgan Stanley Readies Korean Bulk Up

Morgan Stanley is planning to launch an onshore Korean operation.

Morgan Stanley is planning to launch an onshore Korean operation. "We're getting ready to enter this market. We're just waiting for approval," said an official at the firm. The U.S. house is awaiting a bank branch license, which will allow it to trade fixed income and foreign exchange products onshore.

Firm officials said it is looking to bring aboard at least two foreign exchange traders, an interest rate swap trader and a few corporate derivative marketers.

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