Luxembourg Stock Exchange
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Luxembourg Stock Exchange
Société de la Bourse de Luxembourg, Avenue de la Porte Neuve 11; Postal Address: B.P. 165, L-2011 Luxembourg (tel. 47 79 36-1; fax: 47 32 98; tlx: 2559 stoex lu). One of the principal exchanges for listing securities issued on the eurobond market, the other being the London Stock Exchange. Although the securities may be quoted on the exchange, trading takes place in the over-the-counter market for such bonds (cf. head-to-head).
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Luxembourg Stock Exchange
| Luxembourg Stock Exchange | |
|---|---|
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Bourse de Luxembourg
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| Type | Stock Exchange |
| Location | Luxembourg City, Luxembourg |
| Coordinates | 49°36′46.0″N 06°07′40.5″E / 49.61278°N 6.127917°E |
| Founded | 5 April 1928 |
| Owner | Société de la Bourse de Luxembourg S.A. |
| Key people | Frank Wagener (Chairman) Robert Scharfe (President and CEO) |
| Currency | Euro |
| No. of listings | 49,097 (end 2008)[1] |
| MarketCap | €357.3bn (end 2006)[1] |
| Indexes | LuxX Index |
| Website | bourse.lu |
The Luxembourg Stock Exchange (French: Bourse de Luxembourg) 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[2] and the President of the Executive Committee and Chief Executive Officer is Robert Scharfe.
The exchange has pre-opening sessions from 07:15am to 09:00am and normal trading sessions from 09:00am to 05:35pm on all days of the week except Saturdays, Sundays and holidays declared by the Exchange in advance.[3]
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Bonds
It specialises primarily in the issue of international bonds, in which it is ranked first in Europe, with 32,933 debt securities listed on the Exchange as of 2008[update].[1] The Luxembourg Stock Exchange was the first exchange to list a Eurobond, with the issue of Italian Autostrade bonds in 1963,[4] 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.[4] 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.[4]
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.[5] The index was fixed at 1,000 on 4 January 1999: the first day of trading after Luxembourg adopted the euro.[5] The ten companies currently included in the listing are:
| Company | Industry | Country | Weighting[6] |
|---|---|---|---|
| Arcelor Mittal | Steel |  LUX |
19.66% |
| BIP Investment Partners | Investment | LUX |
2.75% |
| Dexia | Banking |  BEL |
3.52% |
| Foyer | Insurance | LUX |
0.95% |
| KBC Group | Banking | BEL |
10.19% |
| Luxempart | Investment | LUX |
4.07% |
| Reinet Investments | Investment | LUX |
17.78% |
| RTL Group | Media | LUX |
15.55% |
| SES | Telecommunications | LUX |
20.54% |
| Socfinasia | Resource extraction | LUX |
5.00% |
| Source: Luxembourg Stock Exchange, as of 13 February 2011 | |||
History
A law establishing a stock exchange in Luxembourg was passed on 30 January 1927.[7] The company was incorporated as the Société Anonyme de la Bourse de Luxembourg on 5 April 1928,[8] with an initial issue of 7,000 shares, each valued at 1000 francs.[9]
In November 2000, it entered into an agreement with Euronext.
Footnotes
- ^ a b c "The Luxembourg Stock Exchange: its listing activities" (PDF). Luxembourg Stock Exchange. 26 April 2007. http://www.cc.lu/docdownload.php?id=1253. Retrieved 2008-02-14.
- ^ "Appointments to the Board of Directors of the Luxembourg Stock Exchange". bourse.lu. 20 April 2011. http://www.bourse.lu/application?_flowId=PageStatiqueFlow&content=societe/Actualites/2011/Communique_042011_2.jsp&lang=EN. Retrieved 2011-07-14.
- ^ Market Hours, Luxembourg Stock Exchange via Wikinvest
- ^ a b c "Luxembourg Stock Exchange" (PDF). PricewaterhouseCoopers. http://www.pwc.com/lu/eng/ins-sol/publ/pwc_bourse_lux.pdf. Retrieved 2007-08-18.
- ^ a b "Luxembourg LuxX Index". Bloomberg. http://www.bloomberg.com/apps/quote?ticker=LUXXX:IND. Retrieved 2007-08-19.
- ^ Half-yearly revision of LuxX index, as from 1 July 2009
- ^ (French)/(German) "Mémorial A, 1928, No. 1" (PDF). Service central de législation. http://www.legilux.public.lu/leg/a/archives/1928/0010701/0010701.pdf#page=5. Retrieved 2007-08-18.
- ^ "History". Luxembourg Stock Exchange. http://www.bourse.lu/application;JSESSIONID_BDL=GHPpBqv2phCZhKLx0174GNcgvkdBjThMQT0zhhQP8hQJ41GL0sSK!-1310699570!1983688072?_flowId=PageStatiqueFlow&content=societe/BourseDeLuxembourg/Historique.jsp. Retrieved 2007-08-18.
- ^ (French)/(German) "Mémorial A, 1928, No. 23" (PDF). Service central de législation. http://www.legilux.public.lu/leg/a/archives/1928/0230505/0230505.pdf#page=1. Retrieved 2007-08-18.
External links
- Luxembourg Stock Exchange website
- Finesti - subsidiary of the Luxembourg Stock Exchange
- e-file.lu - secure transmission platform of the Luxembourg Stock Exchange and Finesti
- (French) Coordinated text of statutes of the Luxembourg Stock Exchange
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