A highly-regarded foreign exchange analytics team that sits in Morgan Stanley's trading division is at risk of redundancy as part of the wide-ranging cuts in fixed income at the US bank.

The US bank's quantitative solutions and innovations, or QSI, team has been built from scratch over the past five years to give clients a series of tools to support their FX execution decisions. Using key benchmarks such as cost, slippage and liquidity to inform pre-trade decision-making, the technology has a loyal client base and has helped Morgan Stanley win a number of industry awards, including two of the trade publication FX Week's electronic trading awards in July 2015.