Morgan Stanley is planning to transform its remaining proprietary trading business into an electronic client-trading unit, Bloomberg reports. The Equity Trading Lab (ETL) group has about 30 employees.

ETL is managed by Daniel Ewig, Peter Bolland and Peter Fanelli and has generated about $100 million in revenue annually in recent years. The investment bank is seeking to close down its proprietary trading desk due to the Volcker Rule that restricts banks from betting capital for their own accounts.

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