…Regulator backs China financials as MS buys into Jinrui
A top regulator in China has insisted that launching of equity
index futures can still happen this year, in the same week that
Morgan Stanley (MS) revived the trend for international trading
firms to partner with Chinese futures brokers.
Fan Fuchun, vice chairman of Chinas Securities and
Futures Commission, told the countrys official news
agency that, from a regulatory point of view, launching equity
index futures on China Financial Futures Exchange (CFFE) this
year was not an issue. CFFE has been beset with
delays since its launch in September 2006 and constant
postponements to anticipated launch dates mean the exchange
still lists no contracts.
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