The annual general meeting of the Luxembourg Stock Exchange was held on Wednesday, 18 April 2012.
At the end of 2011, turnover for the Luxembourg market operator stood at 40 million euros, representing a decrease of 2.71% over the previous year. However, as a result of reductions in costs, net income for the year amounted to 10.68 million against 10.52 million the previous year, a slight increase of about 1.56%.
Shareholders approved the accounts for 2011 and resolved to pay a net dividend of 42.50 euros. This amount is unchanged from 2010.
In the area of admissions of securities to trading on both its markets, the Luxembourg Stock Exchange recorded a slight decrease in the total number of quotation lines. There were 44,369 lines at 31 December 2011 against 44,916 at the same date the previous year. The Luxembourg Stock Exchange maintains its leading position in Europe in the listing of international securities.
Secondary market activity in 2011 recorded trading volumes of 262 million euros (up 19.75%). This improved result is due to a policy set the management of the Luxembourg Stock Exchange aimed at stimulating market activity and was achieved through the participation of several market players from Belgium, France, Luxembourg and the Netherlands.
The subsidiary of the Luxembourg Stock Exchange, Finesti, was very active in actions related to the UCITS IV directive. In this field, it offers investment fund professionals a wide range of services enabling them to meet new EU requirements, particularly as regards cross-border distribution.
During the year, the Luxembourg Stock Exchange closely monitored developments concerning EU legislation. It was chiefly focused on the revision of the markets in financial instruments directive (MiFID).
The Exchange took part in various activities promoting the Luxembourg financial centre. It also participated in trade missions and the work of the High Committee of the Financial Centre. Additionally, the Luxembourg Stock Exchange and NYSE Euronext are bound by partnership agreements. Hence the use by the Exchange of the UTP trading platform common to all the NYSE Euronext group’s cash markets.
The annual general meeting appointed to the board, for a term of three years, Jean-Claude Finck, Frédéric Genet, Isabelle Goubin, Sarah Khabirpour, François Pauly and Marc Saluzzi. Finally, the annual general meeting expressed its sincere thanks to Raymond Kirsch, retiring director and honorary chairman, and to Michael Maquil who leaves his position as President & CEO, for their remarkable commitment to the Luxembourg Stock Exchange.