JPMorgan has received regulatory approval to finalise a joint venture with Chinese futures house Zhongshan Futures. The deal will allow the US bank to trade and clear derivatives in China.
China Securities Regulatory Commission (CSRS) approved the partnership on 25 September.
The move follows previous unsuccessful attempts by FCMs to enter into the China sphere through means of acquisition and joint ventures. ABN Amro entered into an agreement with Beijing-based futures...