Euronext, Luxembourg stock exchange sign partnership agreement |
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Thu, 22 Mar 2007 09:09
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PARIS (AFX) - Euronext NV and the Luxembourg Stock Exchange announced the signature of a cooperation agreement which will lead to the availability in the second quarter of all Luxembourg securities on the NSC trading platform used by Euronext's cash markets.During the third quarter, Euronext will adopt the SAGE services and listing tools used by the Luxembourg market for the listing of corporate debt instruments, the companies said.The agreement will also lead to the creation of a European Economic Interest Grouping from April, bringing together as its first members the two founders: Euronext and the Luxembourg Stock Exchange.The EEIG's purpose will be to develop a shared standard, to be called LuxNext, for listing and trading corporate bonds through the use and promotion of a comprehensive, integrated solution based on leading-edge technology, they said.The availability of Luxembourg securities on the NSC platform will give Euronext members access to nearly 40,000 instruments traded on the Luxembourg Exchange, including 29,000 bonds issued by more than 4,000 entities in over 100 countries.Euronext is scheduled to merge with NYSE Group Inc. The formal merger offer by the New York Stock Exchange operator closed last night and results are expected next week.Andrew.Newby@Thomson.coman/anCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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NYSE, Euronext agree to merger deal 