Luxembourg Stock Exchange and Industrial and Commercial Bank of China sign memorandum of understanding

The Luxembourg Stock Exchange (LuxSE) and the Industrial and Commercial Bank of China, Luxembourg branch, (ICBC) signed a memorandum of understanding on 4 December 2014 at the occasion of the launching ceremony of ICBC as the RMB clearing bank for Luxembourg

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04/12/2014 | Banques, caisses rurales et autres activités financières

With this agreement, LuxSE and ICBC intend to cooperate on a range of market activities that are linked to the internationalisation of the renminbi, particularly the listing of RMB denominated securities in Luxembourg.

They will also be cooperating on securities listings in general, as well as on market innovation and new listing products.

Commenting on the signing of the agreement, Hubert Grignon Dumoulin, member of the management board of LuxSE said, “We are pleased to have signed this memorandum of understanding with ICBC. This agreement further strengthens the capacity of Luxembourg as a platform for international RMB business and highlights the global and long-term expertise that LuxSE can bring to this field.”

LuxSE currently lists 47 RMB bonds for issuers from 20 countries and 8 RMB investment funds. LuxSE is the number one listing venue for RMB bonds outside Asia

Bourse de Luxembourg