ABBL

The 2010 edition of the annual Stock Exchange Day of the Luxembourg Stock Exchange took place on Thursday, 4 March. This year saw an exceptional turnout with nearly a thousand attendees taking part, representing the financial centre and various economic and political circles of the country. The guest speaker for this event was Mr. Luc Frieden, Minister of Finance, who delivered a speech entitled "Luxembourg in the era of the G20”.

In his welcoming address, Raymond Kirsch, Chairman of the Board of Directors, gave a brief review of the activities of the Luxembourg Stock Exchange in 2009, before commenting on the financial results of the company. He highlighted the noteworthy achievement of the Luxembourg Stock Exchange in managing to maintain its leading position in Europe for the listing of international securities, despite the crisis. He also pointed out the sound financial health of the Luxembourg Stock Exchange in light of the difficult conditions currently being experienced by the capital markets. Raymond Kirsch concluded his speech with a call to all actors in the Luxembourg financial centre to maintain their engagement and solidarity in the face of the current challenges, while at the same time ensuring the improvement of competitiveness and attractiveness of Luxembourg.

For his part, Luc Frieden, Minister of Finance, took the opportunity of the Stock Exchange Day to launch a strong message to the national and international financial communities. In his speech, the Minister delivered a plea for the voice of Europe to be better heard at the international level especially in making decisions concerning the regulation and architecture of the global financial sphere.

The Minister also analysed the impact of the crisis on the activities of the Luxembourg financial centre, and the action plan to enable it to retain its major strengths while adapting to changes required by both current conditions and international competition. Having assured the financial community of the government's commitment to the development of the financial centre, he announced a number of proposals to ensure its sustainability. At the heart of these are innovation and diversification of products and services, as well as consultation with the major actors. It was in this context that he situated the recent establishment of the Senior Committee of the Financial Centre.

Michel Maquil, President & CEO of the Luxembourg Stock Exchange, delivered the closing address. In his remarks, he concentrated on the main areas in which the Luxembourg Stock Exchange is taking action as part of its diversification policy. In particular, he mentioned the infrastructure project for investment funds in Luxembourg that it is carrying out with its subsidiary, Finesti.

After reaffirming his ambitions for and belief in the Luxembourg financial centre, the President & CEO invited the audience to extend these discussions over a friendly cocktail or around the on-site information stands.

(Source: Luxembourg Stock Exchange)