London Stock Exchange Group (LSEG) and Industrial and Commercial Bank of China (ICBC) have signed a Memorandum of Understanding to expand cooperation across capital markets, post-trade services, data and cross-border renminbi business. The agreement was signed in Beijing during the UK Prime Minister’s visit to China.
According to the announcement, the MoU builds on an existing relationship and provides a framework for collaboration in areas including trading, clearing, market data and analytics, RMB services, sustainable finance and financial innovation. LSEG operates global market infrastructure spanning trading venues, clearing and data, while ICBC is one of the largest banks in the world and a key player in China’s domestic and international markets.
Clearing and data in focus
For post-trade professionals, the reference to clearing, infrastructure and data points to closer links between Chinese and international market ecosystems. The companies say capital markets, post-trade, data and emerging technologies are central to the cooperation.
The MoU was signed by Fiona Bassett, CEO FTSE Russell, an LSEG business on behalf of LSEG and by ICBC vice president Zhang Weiwu.
