Strategic alliance combines Morgan Stanley's industry-leading trading solutions with Axioma's state-of-the-art optimization software.
NEW YORK, October 29, 2002 – Axioma Inc., a leading provider of optimization software, has entered into a strategic agreement with Morgan Stanley (NYSE: MWD) to provide solutions for portfolio management in the financial services industry. Morgan Stanley chose to partner with Axioma after an extensive search for the fastest, most flexible software capable of handling the complex scenarios that its clients encounter daily. The strategic alliance is coupled with an equity investment in Axioma by Morgan Stanley.
As part of the alliance, Morgan Stanley's structuring & execution services will be bundled with Axioma's premier decision support technology to form a brand new solution for the asset manager. The offering will leverage Axioma's market leading portfolio optimization software PortfolioPrecision and will be available to Morgan Stanley clients starting the fourth quarter, 2002.
The integration of portfolio management and trading, one of the biggest open challenges for the asset management community, is mathematically complex, operationally difficult, and can significantly enhance investment performance. Axioma's optimizer helps portfolio managers identify and execute a set of transactions that best matches the tradeoffs between expected return and trading impact for each portfolio.
"We are delighted to be working with a market leader like Morgan Stanley, providing their clients with the ability to make more efficient investment decisions and ultimately, to achieve better returns," said Sebastián Ceria, President and CEO of Axioma, Inc. "By entering into an operating alliance as well as investing in the future of our company, Morgan Stanley has given our technology a strong vote of confidence."
Axioma's Chairman Bill Guttman added, "Joining Morgan Stanley's trading expertise and industry leadership with Axioma's groundbreaking portfolio optimization technology answers the question: What's the new frontier in a fully integrated software solution for asset management?"
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