Morgan Stanley is set to reportedly open its key stock administration platforms, ShareWorks and Equity Edge, to autonomous AI agents from thousands of corporations.
The move marks one of the earliest moves by a major Wall Street bank to grant external AI tools direct access to its systems, reported CNBC
The initiative allows clients’ AI agents to pull data and insights directly from the platforms, bypassing traditional human interfaces, according to Mark Mitchell, chief product officer of Morgan Stanley at Work. “In the future state, our corporate clients will not be logging into ShareWorks or Equity Edge,” Mitchell said. Instead, they will use agentic AI tools within their own companies to interact with Morgan Stanley’s platforms in a purely agent-to-system manner. The bank has already provided early access to a small group of clients and plans to roll it out to all 3,400 administration clients by next year, as per the report.
While rivals such as JPMorgan and Goldman Sachs are deploying AI agents internally for tasks like code writing, they have not yet publicly announced direct external agent access to their systems. Morgan Stanley has transformed the administration of employee stock compensation plans into an entry point for its wealth management division, holding $7.35tn in client assets. Through the 2019 acquisition of Solium Capital and the 2020 purchase of E-Trade, the firm now serves stock plans for nearly half of S&P 500 companies and eight of the 10 largest unicorn startups.