Discontinued — last reported Q4 '16
Operating Expenses
Brokerage, clearing and exchange fees
Morgan Stanley Brokerage, clearing and exchange fees decreased by 1.1% to $1.13B in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 4.4%, from $1.18B to $1.13B. Over 4 years (FY 2021 to FY 2025), Brokerage, clearing and exchange fees shows an upward trend with a 8.8% CAGR.
Analysis
StatementIncome Statement
SectionOperating Expenses
CategoryEfficiency
SignalContext dependent
VolatilityModerate
First reportedQ1 2013
Last reportedQ4 2016
How to read this metric
An increase generally correlates with higher trading volumes and market activity, whereas a decrease suggests lower transaction throughput.
Detailed definition
These are the direct costs incurred for executing, clearing, and settling client and firm securities transactions throug...
Peer comparison
Standard for firms with significant trading or brokerage operations, often benchmarked against trading revenue.
Metric ID:
is_ms_brokerage_clearing_exchange_feesHistorical Data
19 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $795.00M | $825.00M | $811.00M | $882.00M | $878.00M | $847.00M | $851.00M | $881.00M | $875.00M | $855.00M | $865.00M | $921.00M | $995.00M | $1.04B | $1.18B | $1.22B | $1.19B | $1.14B | $1.13B |
| QoQ Change | — | +3.8% | -1.7% | +8.8% | -0.5% | -3.5% | +0.5% | +3.5% | -0.7% | -2.3% | +1.2% | +6.5% | +8.0% | +4.9% | +13.0% | +3.6% | -2.8% | -4.0% | -1.1% |
| YoY Change | — | — | — | — | +10.4% | +2.7% | +4.9% | -0.1% | -0.3% | +0.9% | +1.6% | +4.5% | +13.7% | +22.1% | +36.4% | +32.7% | +19.4% | +9.3% | -4.4% |
Range$795.00M – $1.22B
CAGR+8.1%
Avg YoY Growth+10.3%
Median YoY Growth+4.9%
Current Streak3 quarters decline
Brokerage, clearing and exchange fees at Other Companies
Frequently Asked Questions
- What is Morgan Stanley's brokerage, clearing and exchange fees?
- Morgan Stanley (MS) reported brokerage, clearing and exchange fees of $1.13B in Q4 2025.
- How has Morgan Stanley's brokerage, clearing and exchange fees changed year-over-year?
- Morgan Stanley's brokerage, clearing and exchange fees decreased by 4.4% year-over-year, from $1.18B to $1.13B.
- What is the long-term trend for Morgan Stanley's brokerage, clearing and exchange fees?
- Over 4 years (2021 to 2025), Morgan Stanley's brokerage, clearing and exchange fees has grown at a 8.8% compound annual growth rate (CAGR), from $3.34B to $4.68B.
- What does brokerage, clearing and exchange fees mean?
- Costs paid to exchanges and clearinghouses to process trades.