LSEG expands China reach with ICBC deal

The MoU covers RMB services, trading, clearing, and FTSE Russell

London Stock Exchange Group (LSEG) and Industrial and Commercial Bank of China (ICBC) have signed a memorandum of understanding (MoU) to expand cooperation.

The MoU encompasses partnership across global financial markets, market data, cross-border renminbi (RMB) services, and sustainable finance.

The agreement sets out areas for collaboration in trading, clearing, post-trade services, market data and analytics, and financial technology.

It builds on an existing relationship between the two institutions and provides a framework for future joint initiatives.

Cross-border RMB services are a central focus, supporting currency use in trade, investment, and capital markets, according to the press statement from LSEG.

The partnership also includes cooperation in sustainable finance, including the use of data and analytics to support ESG-related products.

For ICBC, the agreement strengthens access to global market infrastructure and data services. The bank plays a key role in facilitating China-related cross-border capital flows.

For LSEG, the partnership supports engagement with Chinese financial institutions and demand for its trading, clearing, index, and data businesses, including FTSE Russell.

The MoU is non-binding and does not involve financial terms.

It reflects continued efforts by Chinese banks and global market operators to maintain cross-border connectivity amid a complex regulatory environment, stated the press release.