In May 2007, the Luxembourg Stock Exchange transferred all 44,000 securities listed on its two markets, the regulated market and the Euro MTF market, to the UTP trading platform of NYSE Euronext’s European Cash Markets.

This means that through the Cross-Membership mechanism, all members of the Luxembourg Stock Exchange may access NYSE Euronext’s European Cash Markets. Equally, NYSE Euronext’s European Cash Markets members qualifying for the European passport may access the markets of the Luxembourg Stock Exchange.

Additionally, Cross-Members will have access to NYSE Euronext’s European Cash Markets and Luxembourg Stock Exchange market data.

Members can access this platform directly through their own architecture or any ISV (Independent Software Vendor) network, meaning that if they already are members of one exchange, they can easily extend their access to the markets of the other.

The UTP system is capable of handling exceptionally large volumes with a very low latency. It is subject to permanent review and updating, with a view to always provide the best trading service possible to market participants.

NYSE Euronext Members wishing to become members of the Luxembourg Stock Exchange should first apply to their local contact. Their application will subsequently be forwarded to the Luxembourg Stock Exchange. The same process applies to Luxembourg Stock Exchange members wishing to become members of NYSE Euronext European Cash Markets: they only need to inform the Luxembourg Stock Exchange who will hand the application form over to NYSE Euronext. The application process for Cross-Membership is thus made shorter and faster with the Luxnext partnership.

If you wish to become a Cross-Member, you can download the “Cross-Membership Fast Track Form”.

In March 2008, NYSE Euronext markets adopted the SAGE (Système d'Admission et de Gestion Electronique) services and functions already used by the Luxembourg Stock Exchange for the listing of their corporate debt issues.

Since March 2008, the Luxembourg Stock Exchange’s post-trade activities have been carried out in conjunction with LCH.Clearnet SA for clearing and with Euroclear Bank and Clearstream Banking Luxembourg for settlement.

NYSE Euronext handles its post-trade activities with LCH.Clearnet SA for clearing and Euroclear for settlement.

NYSE Euronext and the Luxembourg Stock Exchange offer two types of post-trade models: the central counterparty model (guaranteed) and the pass-through model (non-guaranteed). Additionally, the Luxembourg Stock Exchange has a bilateral settlement model, which is the original model in use since the creation of the Luxembourg Stock Exchange.

Having the same listing and trading systems enables NYSE Euronext and the Luxembourg Stock Exchange to work on streamlined listing and trading processes and to collect bond characteristics in a similar way. Therefore, Luxnext is equipped with adjusted data management systems, which will facilitate the creation of new services.