London Stock Exchange Group and Industrial and Commercial Bank of China have agreed a memorandum of understanding to broaden their cooperation across financial services and markets, the companies said on Friday. The agreement aims to deepen collaboration in areas including trading, clearing, and market data services as both firms seek to strengthen ties in global and Chinese markets.
Under the memorandum of understanding, the two institutions will explore joint initiatives covering cross border renminbi services, trading and clearing operations, post trade services, and financial technology development. The agreement builds on an existing relationship and provides a framework for future strategic work.
A key focus of the cooperation is expanding support for cross border renminbi use, which includes facilitating currency use in trade, investment and capital markets. This reflects broader efforts by financial institutions to support the international role of China’s currency and connect global liquidity pools.
The deal also includes collaboration on sustainable finance, drawing on data and analytics to support investment products linked to environmental social and governance outcomes. Both parties said this cooperation could help meet growing client demand for sustainable financial solutions.
For Industrial and Commercial Bank of China the agreement strengthens access to global market infrastructure and expands access to data services that could support its international business development. The bank is a major state owned lender and one of the world’s largest financial institutions by assets.
London Stock Exchange Group said the partnership supports its broader strategy of deepening engagement with Chinese financial institutions and expanding its offerings in trading clearing and index services, including its market benchmark index business.
The memorandum of understanding is non binding and does not involve immediate financial commitments. Both parties said detailed terms of future collaboration will be developed under the framework outlined in the agreement.
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