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The Luxembourg Stock Exchange

The Luxembourg Stock Exchange. March 2012. Contents. Overview of the Luxembourg Stock Exchange Facts and figures Historical listings as first mover Market description Other products and services Finesti – our subsidiary for investment funds. Overview of the Luxembourg Stock Exchange.

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The Luxembourg Stock Exchange

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  1. The Luxembourg Stock Exchange March 2012

  2. Contents • Overview of the Luxembourg Stock Exchange • Facts and figures • Historical listings as first mover • Market description • Other products and services • Finesti – our subsidiary for investment funds

  3. Overview of the Luxembourg Stock Exchange

  4. National and international relations Luxembourg Associations Luxembourg institutions • Profil • Luxembourg for Finance • ABBL • ALFI • Nobelux • Institut Luxembourgeois des Administrateurs (ILA) • Chambre de commerce • British Chamber of Commerce • AmCham • Camera di Commercio Italo Lussemburghese • Indian Business Chamber of Luxembourg • Investas • XBRL Luxembourg • Institut du mouvement sociétal • The Institute for Global Financial Integrity (TIGFI) • CSSF • Banque centrale du Luxembourg( + Banque centrale européenne) • Haut comité de la finance • Ministère des affaires étrangères • Université du Luxembourg • Agence de transfert de technologie financière (ATTF) • Luxtrust • LuxFLAG • European Securities Markets Expert Group (ESME) • Centre for European Policy Studies (CEPS) • Federation of European Securities Exchanges (FESE) • World Federation of Exchanges (WFE) • International Capital Market Association (ICMA) • International Capital and Securities Markets Association (ICSMA) • European Fund and Asset Management Association (EFAMA) • Association Française de Gouvernement d’Entreprise (AFGE) • Financial Information Services Division(Software & Information Industry Association) International and Luxembourg institutions

  5. Main characteristics • Founded in 1928 as a for-profit organization • Still an independent exchange • 135 employees, all in Luxembourg • Medium-size stock exchange, internationally recognised as a leader for listing services • First Euro Bond in 1963 • First European GDR in 1990 • First European Sukuk loan in 2002 • Main clients: JP Morgan, Citibank, Merrill Lynch, UBS, Crédit Suisse, Deutsche Bank, Barclays, BNP Paribas, Société Générale, Santander, Fortis, ING, KBC, etc. • Partnership with NYSE Euronext • Founding member of • World Federation of Exchanges (WFE) in 1961 • Federation of European Securities Exchanges (FESE) in 1974

  6. Centre of excellence for infrastructure and expertise • Services offer tailored to the needs of international capital markets (speed, efficiency, competitiveness, neutrality, stability) without adding additional requirements • 50 years of experience in listing international high-level bonds • Advanced infrastructure for trading • UTP for trading • LCH for central counterparty • Euroclear Bank or Clearstream for settlement • Excellent image for Luxembourg financial services with sector professionals while at the same time contributing to this reputation

  7. Contacts to Hong Kong • Since 12 November 2001, Hong Kong Exchanges and the Luxembourg Stock Exchange have had an MoU to officially develop cooperation. • On October 2009, contact was renewed with HKEx during an official visit to Hong Kong of the prime minister of Luxembourg

  8. Facts and figures

  9. 3,500 issuers, 100 countries 60 sovereign states and 11 supranational institutions Over 800 new quotation lines/month in average Approximately 90% of issues are EMTN programmes Listing in 54 different currencies 9.60% 61.46% 12.07% 0.42% 15.76% 0.69% Issuers by location Luxembourg Stock Exchange: an international listing center

  10. NYSE Euronext 5.80% London Stock Exchange Group 10.01% LuxembourgStock Exchange 42.43% Irish StockExchange 23.28% European leader in the listing of international bonds Strong activity in the listing field Quotation lines (Dec 2011) Bonds 29,243 Warrants 8,346 Shares/DRs 340 Luxembourg 31 Foreign 309 UCITS 6,440 Luxembourg 6,244 Foreign 196 Total 44,369 Others 2.77% Deutsche Börse 15.71% Leader for GDR listing Second Exchange after NYSE for the listing of Depositary Receipts. 286 DRs listed on the Exchange as at 31 October 2011. Issuers based in Asia, mostly from India. Breakdown by currency (bond issues) 60% EUR 25% USD Other 15%

  11. Historical listings as first mover

  12. First eurobond listed by the Luxembourg Stock Exchange (17/07/1963)

  13. GDRs (Global Depository Receipts) First listing of a GDR: 20 December 1990 Recent issues

  14. GDRs at the Luxembourg Stock Exchange • The Luxembourg Stock Exchange has been active in listing depositary receipts since the 1960's • First listing of GDR was done in December 1990 for Samsung Corp • The first European listing of a GDR • By the end of December 2010 it had 266 quotation lines for depositary receipts, the majority being GDRs • From companies in 18 countries around the world • Market capitalisation from all countries was around EUR 40 billion • Capitalisations range from the low millions to the billions • Average GDR capitalisation around EUR 200 million

  15. Structure and evolution of listed securities

  16. Market description

  17. Markets operated Luxembourg Stock Exchange Markets European regulated market “BdL Market” since May 1929 Exchange regulated market “EURO MTF” since July 2005

  18. Trading UTP Luxembourg ENXTBrussels ENXTParis ENXTA’dam ENXTLisbon EURegulated EuroMTF Clearing LCH / Clearnet Settlement Euroclear CSD Interbolsa Belgium France Netherlands Euroclear Bank ICSD Clearstream ICSD Trading and post-trade

  19. Other products and services

  20. Dissemination of financial and market data via: The websites of the Luxembourg Stock Exchange and Finesti Specific dissemination via “snapshot” products (in real time or delayed) Statistics and various reports Dissemination of documents via: The websites of the Luxembourg Stock Exchange and Finesti Dissemination via “snapshot” products www.bourse.lu www.finesti.com Information dissemination

  21. OAM services: filing and archiving of regulated information This service allows issuers to meet part of their obligation under the law of 11 January 2008 on transparency. The Luxembourg Stock Exchange has set up an infrastructure for the filing and archiving of information and data. 300 filing entities and 500 issuers Display and dissemination of notices For notices from issuers whose securities are admitted to the official list. These notices are posted on the website and, in parallel, distributed to data vendors 20 to 25 notices / day New services

  22. Finesti – our subsidiary for investment funds Collection, management, dissemination of investment fund data

  23. Finesti: Subsidiary specialised in the fund industry business

  24. Serving the fund industry • Launched in 1995 by the Luxembourg Stock Exchange, the Association of the Luxembourg Fund Industry (ALFI) and 30 Luxembourg financial institutions • Became a 100% subsidiary of the Luxembourg Stock Exchange in 2002 • Shares strategy and development (infrastructure, resources, projects, etc.) with the Stock Exchange • Provides the industry with unique tools to enhance access and distribution of Luxembourg fund information and documents • Maintains close cooperation with the local regulatory authority (CSSF) and is a partner of ALFI, the Luxembourg fund association, via common initiatives to promote the Luxembourg fund industry

  25. Finesti facts and figures • Finesti has a direct link to 81 fund administrators in Luxembourg and indirectly to 841 promoters • Finesti collects, manages and disseminates key information on all investment funds in Luxembourg • 100% of NAVs of Luxembourg funds totalling 35,000 share classes • 27,000 NAVs managed and transmitted on a daily basis • 41,550 prospectuses, simplified prospectus and financial statements • 630 FPP (Fund Processing Passports) already published on our website • 7,600 share classes classified under the EFC (European Fund Classification)

  26. www.bourse.luwww.finesti.com 11, avenue de la Porte-Neuve B.P. 165 L-2015 Luxembourg Tel.: (+352) 47 79 36 330 Fax: (+352) 47 79 36 275 info@bourse.luinfo@finesti.lu Finesti is a subsidiary of Bourse de Luxembourg For further information

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