20 October 2017
visit www.avoka.com

Euronext seals pact with Luxembourg

17 November 2000  |  4319 views  |  0 Euronext seals pact with Luxembourg

The Luxembourg Bourse (BdL) has signed a cross-access and membership agreement with Euronext, the European exchange to be formed from the merger of the Amsterdam, Brussels and Paris stock markets.

The agreement with BdL replaces the Benelux Cross Membership Agreement signed with Brussels and Amsterdam on 14 December 1998. The first phase of the agreement signals the continuation of reciprocal access rights between the original signatories.

Once the Euronext merger is complete, the agreement will be extended to the trading of all Euronext securities, including equities and bonds traded on Euronext Paris. It will allow BdL members to access the Euronext unified trading platform through remote membership links. In return, Euronext members will have access to the BdL trading platform.

Euronext says it has already signed up more than 100 remote members. Jean-Francois Theodore, chairman and CEO of Euronext says: "This first step towards closer co-operation illustrates the flexibility of the Euronext model."

In a seperate development, Theodore has publicly urged the London Stock Exchange to sit down for talks following the withdrawal of OM Gruppen's unwelcome takeover bid. An earlier approach to the LSE from Euronext was spurned in favour of a merger with Deutsche Borse - a deal which collapsed in the wake of the OM bid.

Theodore's overtures follow earlier reported comments by officials at US stock market Nasdaq, who called for "quick, orderly and friendly" talks to cement a transatlantic partnership. The LSE has yet to respond publicly as it steps up its search for a new CEO to replace Gavin Casey, who resigned in September.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

OM fails to win over LSE shareholders

OM fails to win over LSE shareholders

10 November 2000  |  4709 views  |  0 comments
LSE scorns "inadequate" OM bid

LSE scorns "inadequate" OM bid

25 September 2000  |  4547 views  |  0 comments
European securities depositories agree to merger

European securities depositories agree to merger

19 September 2000  |  4511 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comRegister now

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
16076 views comments | 12 tweets | 4 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8325 views comments | 13 tweets | 10 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
7898 views comments | 21 tweets | 26 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7310 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
6643 views comments | 10 tweets | 21 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job