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By Christine Harper
Nov. 9 (Bloomberg) -- Morgan Stanley’s traders generated $100 million or more in revenue on 18 days during the third quarter, down from 22 in the prior three-month period, the fewest of any quarter this year.
The company’s trading department lost money on five days, up from four in the previous quarter, the New York-based firm said in a quarterly filing today with the U.S. Securities and Exchange Commission.
Morgan Stanley, the second-biggest U.S. securities firm before converting to a bank last year, returned to profit in the third quarter as the company took bigger trading risks and reaped more revenue.
Trading revenue fell short of larger rival Goldman Sachs Group Inc., whose traders generated more than $100 million on 36 days in the third quarter and lost money on only one day.
To contact the reporter on this story: Christine Harper in New York at charper@bloomberg.net.
Last Updated: November 9, 2009 08:07 EST
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