Luxembourg Stock Exchange
Encyclopedia
The Luxembourg Stock Exchange is a stock exchange
based in Luxembourg City, in southern Luxembourg
.
The Exchange is located on avenue de la Porte-Neuve, . The Chairman of the Board
is Frank Wagener and the President of the Executive Committee and Chief Executive Officer
is Michel Maquil
.
The exchange has pre-opening sessions from 07:15am to 09:00am and normal trading sessions from 09:00am to 05:40pm on all days of the week except Saturdays, Sundays and holidays declared by the Exchange in advance.
, in which it is ranked first in Europe, with 32,933 debt securities
listed on the Exchange . The Luxembourg Stock Exchange was the first exchange to list a Eurobond
, with the issue of Italian
Autostrade bonds in 1963, and, to this day, Luxembourg has maintained a dominant position in European bond issues, with approximately 60% of all cross-border securities in Europe being listed in Luxembourg. Fifty countries list at least some of their sovereign debt in Luxembourg, whilst Luxembourg is also a market for debt from the EBRD
, European Commission
, European Investment Bank
, and World Bank
.
index is called the LuxX Index
, which is a weighted index of the ten most valuable listed stocks by free floated market capitalisation
. The index was fixed at 1,000 on 4 January 1999: the first day of trading after Luxembourg adopted the euro
. The ten companies currently included in the listing are:
as the Société Anonyme
de la Bourse de Luxembourg on 5 April 1928, with an initial issue of 7,000 shares
, each valued at 1000 francs.
In November 2000, it entered into an agreement with Euronext
.
Stock exchange
A stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and...
based in Luxembourg City, in southern Luxembourg
Luxembourg
Luxembourg , officially the Grand Duchy of Luxembourg , is a landlocked country in western Europe, bordered by Belgium, France, and Germany. It has two principal regions: the Oesling in the North as part of the Ardennes massif, and the Gutland in the south...
.
The Exchange is located on avenue de la Porte-Neuve, . The Chairman of the Board
Chair (official)
The chairman is the highest officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office is typically elected or appointed by the members of the group. The chairman presides over meetings of the assembled group and conducts its business in an...
is Frank Wagener and the President of the Executive Committee and Chief Executive Officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
is Michel Maquil
Michel Maquil
Michel Maquil was born on 15 May 1950 in Esch-sur-Alzette in Luxembourg and is the President & Chief Executive Officer of the Luxembourg Stock Exchange .-Career:...
.
The exchange has pre-opening sessions from 07:15am to 09:00am and normal trading sessions from 09:00am to 05:40pm on all days of the week except Saturdays, Sundays and holidays declared by the Exchange in advance.
Bonds
It specialises primarily in the issue of international bondsBond (finance)
In finance, a bond is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest to use and/or to repay the principal at a later date, termed maturity...
, in which it is ranked first in Europe, with 32,933 debt securities
Security (finance)
A security is generally a fungible, negotiable financial instrument representing financial value. Securities are broadly categorized into:* debt securities ,* equity securities, e.g., common stocks; and,...
listed on the Exchange . The Luxembourg Stock Exchange was the first exchange to list a Eurobond
Eurobond
A Eurobond is an international bond that is denominated in a currency not native to the country where it is issued. It can be categorised according to the currency in which it is issued. London is one of the centers of the Eurobond market, but Eurobonds may be traded throughout the world - for...
, with the issue of Italian
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
Autostrade bonds in 1963, and, to this day, Luxembourg has maintained a dominant position in European bond issues, with approximately 60% of all cross-border securities in Europe being listed in Luxembourg. Fifty countries list at least some of their sovereign debt in Luxembourg, whilst Luxembourg is also a market for debt from the EBRD
European Bank for Reconstruction and Development
Founded in 1991, the European Bank for Reconstruction and Development uses the tools of investment to help build market economies and democracies in 30 countries from central Europe to central Asia. Its mission was to support the formerly communist countries in the process of establishing their...
, European Commission
European Commission
The European Commission is the executive body of the European Union. The body is responsible for proposing legislation, implementing decisions, upholding the Union's treaties and the general day-to-day running of the Union....
, European Investment Bank
European Investment Bank
The European Investment Bank is the European Union's long-term lending institution established in 1958 under the Treaty of Rome. A policy-driven bank, the EIB supports the EU’s priority objectives, especially European integration and the development of economically weak regions...
, and World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
.
Equities
Luxembourg Stock Exchange's main equityStock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
index is called the LuxX Index
LuxX Index
The LuxX Index is the main stock market index of the Luxembourg Stock Exchange, the stock exchange based in Luxembourg City, in southern Luxembourg. The LuxX is a weighted index of the eleven most valuable listed stocks by free floated market capitalisation...
, which is a weighted index of the ten most valuable listed stocks by free floated market capitalisation
Market capitalization
Market capitalization is a measurement of the value of the ownership interest that shareholders hold in a business enterprise. It is equal to the share price times the number of shares outstanding of a publicly traded company...
. The index was fixed at 1,000 on 4 January 1999: the first day of trading after Luxembourg adopted the euro
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
. The ten companies currently included in the listing are:
History
A law establishing a stock exchange in Luxembourg was passed on 30 January 1927. The company was incorporatedIncorporation (business)
Incorporation is the forming of a new corporation . The corporation may be a business, a non-profit organisation, sports club, or a government of a new city or town...
as the Société Anonyme
S.A. (corporation)
S.A. designates a particular type of corporation in various countries, mostly those employing the civil law. It originated in Spain during the 16th century. Depending on language, the abbreviation stands for various phrases meaning anonymous society, anonymous company, anonymous partnership, or...
de la Bourse de Luxembourg on 5 April 1928, with an initial issue of 7,000 shares
Share (finance)
A joint stock company divides its capital into units of equal denomination. Each unit is called a share. These units are offered for sale to raise capital. This is termed as issuing shares. A person who buys share/shares of the company is called a shareholder, and by acquiring share or shares in...
, each valued at 1000 francs.
In November 2000, it entered into an agreement with Euronext
Euronext
Euronext N.V. is a pan-European stock exchange based in Amsterdam and with subsidiaries in Belgium, France, Netherlands, Portugal and the United Kingdom. In addition to equities and derivatives markets, the Euronext group provides clearing and information services...
.
External links
- Luxembourg Stock Exchange website
- Finesti - subsidiary of the Luxembourg Stock Exchange
- http://www.e-file.lue-file.lu - secure transmissionSecure transmissionIn computer science, Secure Transmission refers to the transfer of data such as confidential or proprietary information over a secure channel. Many secure transmission methods require a type of encryption. The most common email encryption is called PKI...
platform of the Luxembourg Stock Exchange and Finesti] Coordinated text of statutes of the Luxembourg Stock Exchange