On the surprising strength in FICC revenues in Q1, Morgan Stanley (MS) CFO Ruth Porat - speaking on the earnings call - says weather-related volatility played a big factor in strong commodity business, but credit corporates and mortgages continued to be strong areas for the bank.
On HFT: “We’ve advocated for increased transparency and trading protocol ... So we welcome ongoing enhancement (in) equity market structure."
Asked by Mike Mayo to break out the numbers in prime brokerage, Porat declines, saying it's not company policy to break out components within units. "Client balances and revenues are up quarter over quarter and year over year ... (the) highest balances since the crisis."
Shares +2.5% premarket