Morgan Stanley, one of many world’s greatest wealth managers, stated its on-line buying and selling portal for rich shoppers went down on Wednesday.
The financial institution’s message for shoppers was to name a human adviser to position trades, somewhat than utilizing the corporate’s web site. The difficulty stemmed from “an inside system” malfunction and never excessive commerce volumes or employees working remotely, based on an individual briefed on Morgan Stanley’s scenario.
Retail brokerages have suffered sporadic outages this month amid unprecedented volatility and quantity in markets amid the coronavirus disaster. Most notably, free-trading pioneer Robinhood was overwhelmed by site visitors on a number of days, together with one of many greatest days for positive aspects on the Dow Jones.
The outage at Morgan Stanley lasted no less than a number of hours throughout buying and selling Wednesday, and after the shut the online portal toggled between being out there and displaying an error message.
When Morgan Stanley introduced final month it was buying on-line brokerage E-Commerce for $13 billion…