the london type ** categorized as the naturally formed market.originating from the late 1950s,it handles both bank transactions and securities.non-residents are entitled to,apart from trading various foreign exchange and financial operations,absorbing deposits without paying the legal reserve.since the cancellation of foreign exchange control in october,1979,the london offshore market has in effect evolved into a financial market that integrates domestic and offshore operations.similarly,with the same cancellation,hongkong has become a major london type offshore market in the asia-pacific region.