History……….

• A law establishing a stock exchange in

Luxembourg was passed on 30 January 1927.
• Specialise in international listing.
• Chairman of the Board-Raymond Kirsch 
• President of the Executive Committee
and Chief Executive Officer-Michel Maquil.
 Bonds-
• Its specialision-international bonds,
in which it is ranked first in Europe, with
32,933 debt securities listed on the Exchange
as of 2008.
•  The Luxembourg Stock Exchange was the first
exchange to list a Eurobond.
 Equities

• Luxembourg Stock Exchange's

main equity 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 Luxembourg Stock Exchange has two
stock indexes. They are:
• Luxembourg Stock Price Index is adjusted for
normal transactions other than dividends.
• Luxembourg Stock Return Index is adjusted for
payments in dividends and including the
dividends that are paid to the current market.
• No. of listings securities
49,097 (end 2008)
• Market Capitalisation
€357.3bn (end 2006)
• T rading volume-
• As at December 31, 2009, trading
volume on the Luxembourg Stock
• Exchange had reached a total of EUR
272.05 million. The average daily
volume stood at EUR 1.08 million.
• Equity trades accounted for at 79.15 %
of the volume, or EUR 215.34 million
in absolute terms, while bonds
accounted for 20.85 % or EUR 56.71
million.
 Events-
The Luxembourg Stock Exchange entered into an
understanding with Euronext in November 2000.
• In 2009, the Exchange carried out a revision of its
publication “The Ten Principles of Corporate G
overnance of the Luxembourg Stock Exchange”.
• CCLux becomes Finesti.
• Launch of indices for GDRs.
 Regulatory framework
•The Luxembourg Stock Exchange offers a choice of two markets,
1.The main EU-regulated market (called “the BdL market”)
2.Exchange-regulated market (called “the Euro MTF”).

For trading activities, there are no differences between these two markets. The same rules & regulations and
trading mechanism apply to both.
Regulatory framework f or the documentation to be published
prior a listing-
•One of the conditions for listing securities on the markets operated by the
Luxembourg Stock Exchange is compliance with the provisions provided
in the Law on prospectuses.
•T he regulatory framework f or admitting securities to the official list
of the Luxembourg Stock Exchange and for admitting to trading these securities on the markets operated by
the Stock Exchange .

C) The regulatory framework after the listing.

.
 CONTD………
• For listing activities there are important differences. 

The BdL market is EU regulated and issuers are subject to the

requirements of the Prospectus and Transparency Obligation
Directives. In addition, issuers are subject to IFRS accounting
standards (or equivalent for non-EU issuers). As it is an EU-
regulated market, issued securities are eligible for the
European passport. The BdL market is supervised by the
Luxembourg supervisory authority, the CSSF, and has been
operating since 1929.
 CONTINUED……
• The Euro MTF is an exchange-regulated market and is a
Multilateral Trading Facility in accordance with the
MiFID Directive. It is outside the scope of the Prospectus
and Transparency Obligation Directives. The Euro MTF is
for issuers who are not interested in a European
passport or who require more flexibility in relation to
preparation of financial information. Unlike the BdL
market, accounting standards other than IFRS may be
used. The Euro MTF is regulated by the Luxembourg
Stock Exchange and has been operating since July 2005.
Share Holding Pattern
STATISTICS-
Stock exchange performance-