Morgan Stanley will begin trading on the Chinese market

Investment bank Morgan Stanley has announced that it is expecting to establish a futures company in China following the approval of its application by local securities market regulators, according to Reuters.

The regulator, China Securities Regulatory Commission (CSRC), has approved Morgan Stanley’s application to open a futures company, which justifies the bank’s hopes for expanding their presence in the country.

Its competitor JPMorgan Chase & Co became the first foreign bank to wholly own a futures company in China when it was opened in 2020, potentially making Morgan Stanley the second foreign bank to own a futures business in the country, pending the approval of its application by the CSRC.