Nyse Euronext and Luxembourg exchange extend bond cooperation

Source: NYSE Euronext, Luxembourg Stock Exchange

NYSE Euronext and the Luxembourg Stock Exchange announce a new step forward in their cooperation with Euronext markets' adoption of the SAGE (Système d'Admission et de Gestion Electronique) services and functions already used by the Luxembourg Stock Exchange for the listing of corporate debt issues.

As a result NYSE Euronext's European markets now process corporate-bond listings and corporate actions using the SAGE platform, equipped with an interface that facilitates the administration and tracking of procedures relating to the admission of this type of instrument.

The SAGE system is based on the standards and procedures applied by the Luxembourg Stock Exchange, a benchmark for the sector with 45,500 instruments listed, including 32,000 bonds.

This new step follows the migration in May 2007 of all securities on the Luxembourg Stock Exchange to NSC, the Euronext cash trading system. This is Europe's prime pool of liquidity and the point of access to an extended membership network.

The partnership between NYSE Euronext and the Luxembourg Stock Exchange has also led to the establishment of a European Economic Interest Grouping (EEIG) under the Luxnext brand. This has been set up to develop a common standard for the listing and trading of corporate bonds through the use and promotion of a comprehensive, integrated solution incorporating state-of-the-art technology and aligned with the best market practice.

Luxnext will favour transparency, efficiency and innovation in the corporate-bond sector, with the support of targeted marketing and new initiatives in association with the various contributors to market operation.

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