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The Luxembourg Stock Exchange today celebrated the 80th anniversary of its opening.
Beginning as an open outcry market, organized around the physical presence of traders, the Luxembourg Stock Exchange progressed in 1996 to electronic trading, with the launch of a platform designed by the Exchange itself.
This modernization was accompanied by partnerships aiming to increase activity on the market of the Luxembourg Stock Exchange. After an initial agreement between the Benelux stock exchanges, the Luxembourg Stock Exchange concluded in November 2000 a Memorandum of Understanding with Euronext NV. On the basis of this agreement, the Luxembourg Stock Exchange carried out in May 2007 the migration of all its securities to the NSC platform of Euronext, and recently on 9 March 2009 to the new UTP platform of NYSE Euronext.
The transformation of the trading platform went hand in hand with the introduction of a new procedure for clearing and settlement of securities. The agreement signed in May 2007 with LCH Clearnet, ensuring the establishment of a central counterparty structure, now allows members of the Luxembourg Stock Exchange to benefit from a fully automated and integrated solution that allows for significant reductions in transaction costs in a fully structured and secure market environment.
The creation of the Luxembourg Stock Exchange has had an important effect on the development of the Luxembourg financial centre, including the emergence of jobs and activities related to securities trading and listing. Recognized as one of the main listing centres for international securities, the Luxembourg Stock Exchange draws to Luxembourg an important flow of activities, in which are included stakeholders of many professional firms and financial and capital markets specialists.
