As part of transaction, some 100 executives in the US, Britain and Singapore will move to Rosneft. Rosneft, controlled by the Russian state, is one of the world's largest petroleum companies, even out-producing US supergiants like Exxon Mobil in the last quarter. During the fourth quarter of 2013, Rosneft produced more than 4.8 million barrels of oil equivalent per day. The Morgan Stanley divestiture comes as banking and securities regulators move to bank proprietary trading at financial institutions, threatening to end Wall Street's dominance of commodity hedging. The tougher trading regulations, known as the Volcker Rule, were finalized on 10 December and will prohibit proprietary trading by banks with the end goal of drawing a line in the sand between commercial banking and investment banking. Banks were already inching out of commodities trading before the 10 December decision.