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LSE to Clear Yuan-Denominated Products With Bank of China

June 17 (Bloomberg) -- London Stock Exchange Group Plc will develop clearing processes for yuan-denominated products with Bank of China Ltd. in an attempt to make the U.K. more attractive for the fledgling offshore market in the currency.

The two companies signed a memorandum of understanding today to increase each other’s access to the U.K., European and Chinese financial markets, according to a statement from LSE. Some 59 Chinese companies have already listed their shares in London. Seven use the LSE’s main market.

To contact the reporter on this story: Will Hadfield in London at whadfield@bloomberg.net

To contact the editors responsible for this story: Cecile Vannucci at cvannucci1@bloomberg.net Alan Soughley, Srinivasan Sivabalan

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