LSEG and Haitong Securities Sign MoU
Partnership between two firms includes collaboration on RMB ETFs and fixed income product innovation.
The agreement, signed by Alexander Justham, London Stock Exchange CEO, and Wang Kaiguo, Haitong Securities chairman, will look to strengthen ties between the UK and China.
"We are fully committed to supporting Haitong Securities' ambitions and working to develop the off-shore renminbi (RMB) market in London as well as facilitating closer ties between London and Chinese capital markets," Justham said in a statement. "Our agreement today will accelerate progress towards significant and exciting milestones in this important new chapter in global finance."
The two firms will work on RMB ETFs tracking Chinese securities, RMB fixed income product innovation, helping Chinese investors access LSEG capital markets, the promotion of London IPO opportunities to Chinese firms, and exploring opportunities to cooperate on new index and derivatives products.
"As China's capital markets gradually open up, an increasing number of Chinese enterprises are seeking overseas development. These new market dynamics have generated plenty of cross-border financing and investment opportunities," Kaiguo said in a statement. "This memorandum of understanding (MoU) with London Stock Exchange Group formalises co-operation between both parties and is aimed at seizing the opportunities posed by these new market dynamics to better serve clients' needs."
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