SHANGHAI/SINGAPORE, April 6 (Reuters) – Morgan Stanley (MS.N) stated on Thursday it appears to be like ahead to establishing a futures firm in China after the nation’s securities regulator accepted its utility.
China Securities Regulatory Fee (CSRC) accepted Morgan Stanley’s utility to open up a futures enterprise on the planet’s second-largest economic system on Monday, in line with CSRC’s web site.
A Morgan Stanley spokesperson stated the financial institution “appears to be like ahead to establishing a futures firm in China as we develop our home enterprise footprint.”
Rival JPMorgan Chase & Co (JPM.N) turned the primary international financial institution that totally owns a futures firm in China in 2020. Morgan Stanley would doubtlessly turn into the second international financial institution to wholly personal a futures enterprise in China ought to its utility get CSRC’s approval.
China’s State Council introduced as early as 2021 it might launch extra futures contracts and speed up efforts to usher in extra abroad buyers.
Reporting by Li Gu and Tom Westbrook; Modifying by Stephen Coates
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