Reported 21 days ago
Morgan Stanley has received final approval from the China Securities Regulatory Commission to launch its futures business in China, establishing itself as the second major U.S. bank in the country's derivatives market. The new unit, wholly owned by Morgan Stanley, will enable the bank to serve domestic clients and offshore investors. This move follows JPMorgan Chase's entrance into the market in 2020, highlighting the growing activity in China's futures trading, which saw a trading volume of 568 trillion yuan ($79.92 trillion) in 2023.
Source: YAHOO