Morgan Stanley has withdrawn its financial support from Jiway, the electronic exchange for retail investors it founded with OM Group.

The move by Morgan Stanley, which will remain as a market maker on the exchange, also signals the end of Jiway's attempt to find a new equity partner for the troubled exchange. From October 1, Jiway will be a wholly-owned subsidiary of OM Group, the Swedish technology group. This includes all the trading, clearing, and back office operations.