Morgan Stanley/Dean Witter Merger Not Expected To Impact Forex Market

NON-BANKS

Following the announcement last week of the merger between Morgan Stanley and Dean Witter, the usual speculation has started about how the two will combine their foreign exchange operations.

Most industry sources agree that the impact of the merger on the FX market will be minimal at best; however, there is speculation now that it could prompt a wave of similar moves in the financial services sector, whereby the likes of Lehman Brothers or Salomon Brothers could become targets of commercial