Publications
Publications
- March 2005 (Revised December 2005)
- HBS Case Collection
Morgan Stanley and TRAC-X: The Battle for the CDS Indexes Market
Abstract
Morgan Stanley's credit derivatives business, specifically its collateralized debt obligation (CDO) business, has been hugely successful. One of its leading offerings is the TRAC-X product, jointly created and marketed by Morgan Stanley and JP Morgan. However, a new competitor, iBoxx, has entered the picture by offering a similar synthetic CDO product. Lisa Watkinson at Morgan Stanley must now decide how to respond to this new competition.
Keywords
Citation
Chacko, George C., Vincent Dessain, Anders Sjoman, Leonie Maruani, and Kate Hao. "Morgan Stanley and TRAC-X: The Battle for the CDS Indexes Market." Harvard Business School Case 205-075, March 2005. (Revised December 2005.)