Morgan Stanley said on Thursday it looks forward to setting up a futures company in China after the country's securities regulator accepted its application.
People take photos by the Morgan Stanley building in Times Square in New York City, New York U.S., February 20, 2020. REUTERS/Brendan McDermidsaid on Thursday it looks forward to setting up a futures company in China after the country's securities regulator accepted its application.
China Securities Regulatory Commission accepted Morgan Stanley's application to open up a futures business in the world's second-largest economy on Monday, according to CSRC's website. A Morgan Stanley spokesperson said the bank "looks forward to establishing a futures company in China as we grow our domestic business footprint."became the first foreign bank that fully owns a futures company in China in 2020. Morgan Stanley would potentially become the second foreign bank to wholly own a futures business in China should its application get CSRC's approval.
China's State Council announced as early as 2021 it would launch more futures contracts and accelerate efforts to bring in more overseas investors.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Morgan Stanley CEO calls for ‘small sandboxes’ to contain financial stormsMorgan Stanley CEO James Gorman calls for regulators to contain bank risk with 'vigilant oversight' in order to shore up confidence in financial firms.
Read more »
Commercial real-estate prices could tumble 40%, rivaling declines from the 2008 financial crisis: Morgan StanleyA downward spiral of commercial property prices can hurt sectors beyond the real-estate industry, warns Lisa Shalett, chief investment officer at Morgan...
Read more »
25,000 cases in one week and a call to arms: Morgan & Morgan’s battle with insurersLitigation is rarely warm and fuzzy, but what’s unfolding in Florida between plaintiffs firm Morgan & Morgan and the insurance industry puts hardball tactics in a new light.
Read more »
Sharks update: Nieto talks trade, prospect has surgery, and are some players’ seasons over?NHL: Ex-San Jose Shark Matt Nieto relishes chance to chase Stanley Cup with Colorado Avalanche
Read more »
Dijon Stanley is set to challenge Rodrick Pleasant at Arcadia InvitationalGranada Hills sprinter Dijon Stanley is ready to challenge friend and rival Rodrick Pleasant of Gardena Serra in 200 at the Arcadia Invitational.
Read more »
New 'Citadel' Teaser Shows Stanley Tucci Facing Off Against Lesley ManvilleTucci and Manville star alongside Richard Madden and Priyanka Chopra-Jonas in the globe-trotting spy series.
Read more »