The Luxembourg Stock Exchange

March 2012

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Contents

•  Overview of the Luxembourg Stock Exchange

•  Facts and figures

•  Historical listings as first mover

•  Market description

•  Other products and services

•  Finesti – our subsidiary for investment funds

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Overview of the Luxembourg Stock Exchange

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National and international relations

•  Profil •  Luxembourg for Finance •  ABBL •  ALFI •  Nobelux •  Institut Luxembourgeois des

Administrateurs (ILA) •  Chambre de commerce •  British Chamber of Commerce •  AmCham •  Camera di Commercio Italo

Lussemburghese •  Indian Business Chamber of

Luxembourg •  Investas •  XBRL Luxembourg •  Institut du mouvement sociétal •  The Institute for Global Financial

Integrity (TIGFI)

•  CSSF •  Banque centrale du Luxembourg

( + Banque centrale européenne) •  Haut comité de la finance •  Ministère des affaires étrangères •  Université du Luxembourg •  Agence de transfert de technologie

financière (ATTF) •  Luxtrust •  LuxFLAG

Luxembourg Associations Luxembourg institutions

•  European Securities Markets Expert Group (ESME) •  Centre for European Policy Studies (CEPS) •  Federation of European Securities Exchanges (FESE) •  World Federation of Exchanges (WFE) •  International Capital Market Association (ICMA) •  International Capital and Securities Markets Association (ICSMA) •  European Fund and Asset Management Association (EFAMA) •  Association Française de Gouvernement d’Entreprise (AFGE) •  Financial Information Services Division

(Software & Information Industry Association)

International and Luxembourg institutions

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Main characteristics

•  Founded in 1928 as a for-profit organization –  Still an independent exchange

•  135 employees, all in Luxembourg

•  Medium-size stock exchange, internationally recognised as a leader for listing services

–  First Euro Bond in 1963

–  First European GDR in 1990

–  First European Sukuk loan in 2002

•  Main clients: JP Morgan, Citibank, Merrill Lynch, UBS, Crédit Suisse, Deutsche Bank, Barclays, BNP Paribas, Société Générale, Santander, Fortis, ING, KBC, etc.

•  Partnership with NYSE Euronext

•  Founding member of –  World Federation of Exchanges (WFE) in 1961

–  Federation of European Securities Exchanges (FESE) in 1974

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Centre of excellence for infrastructure and expertise

•  Services offer tailored to the needs of international capital markets (speed, efficiency, competitiveness, neutrality, stability) without adding additional requirements

•  50 years of experience in listing international high-level bonds

•  Advanced infrastructure for trading –  UTP for trading

–  LCH for central counterparty

–  Euroclear Bank or Clearstream for settlement

•  Excellent image for Luxembourg financial services with sector professionals while at the same time contributing to this reputation

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Contacts to Hong Kong

•  Since 12 November 2001, Hong Kong Exchanges and the Luxembourg Stock Exchange have had an MoU to officially develop cooperation.

•  On October 2009, contact was renewed with HKEx during an official visit to Hong Kong of the prime minister of Luxembourg

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Facts and figures

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Luxembourg Stock Exchange: an international listing center

•  3,500 issuers, 100 countries

•  60 sovereign states and 11 supranational institutions

•  Over 800 new quotation lines/month in average

•  Approximately 90% of issues are EMTN programmes

•  Listing in 54 different currencies Issuers by location

12.07%

15.76% 0.69%

9.60%

0.42%

61.46%

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Strong activity in the listing field European leader in the listing of international bonds

Second Exchange after NYSE for the listing of Depositary Receipts.

286 DRs listed on the Exchange as at 31 October 2011.

Issuers based in Asia, mostly from India.

Leader for GDR listing

Quotation lines (Dec 2011) Bonds 29,243

Warrants 8,346

Shares/DRs 340 Luxembourg 31 Foreign 309

UCITS 6,440 Luxembourg 6,244 Foreign 196

Total 44,369

Others

Luxembourg Stock Exchange 42.43%

Irish Stock Exchange 23.28%

Deutsche Börse 15.71%

London Stock Exchange Group 10.01%

2.77%

60% EUR 25% USD Other 15%

Breakdown by currency (bond issues)

NYSE Euronext 5.80%

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Historical listings as first mover

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First eurobond listed by the Luxembourg Stock Exchange (17/07/1963)

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GDRs (Global Depository Receipts)

First listing of a GDR: 20 December 1990

Recent issues

Issue Country of origin ISIN Code Listing date

Reliance Power India US75950V2025 17/05/2011

Indowind Energy India US45579V1070 16/05/2011

Neha International India US64015A1060 05/05/2011

Suryachakra Power Corporation India US8690441071 28/04/2011

Vikash Metal & Power India US92675V1026 13/04/2011

TEXMO Pipes and Products India US8830251083 12/04/2011

Winsome Textile Industries India US97550T1060 31/03/2011

Winsome Yarns India US97550Q1022 30/03/2011

Karur K.C.P. Packkagings India US48576W102

7 24/03/2011

Rasoya Proteins India US75406G2057 02/03/2011

Transgene Biotek India US89366K1060 23/02/2011

BTA Bank JSC Kazakhstan US05574Y2090 22/02/2011

Aqua Logistics India US03837W102

7 11/02/2011

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GDRs at the Luxembourg Stock Exchange

•  The Luxembourg Stock Exchange has been active in listing depositary receipts since the 1960's

•  First listing of GDR was done in December 1990 for Samsung Corp –  The first European listing of a GDR

•  By the end of December 2010 it had 266 quotation lines for depositary receipts, the majority being GDRs

–  From companies in 18 countries around the world

•  Market capitalisation from all countries was around EUR 40 billion –  Capitalisations range from the low millions to the billions

–  Average GDR capitalisation around EUR 200 million

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Structure and evolution of listed securities

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Market description

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Markets operated

European regulated market “BdL Market” since May 1929

Exchange regulated market “EURO MTF” since July 2005

Luxembourg Stock Exchange Markets

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Trading and post-trade

Trading UTP

Clearing

Settlement

ENXT Brussels

ENXT Paris

ENXT A’dam

ENXT Lisbon

LCH / Clearnet

Euroclear CSD Interbolsa

Belgium France Netherlands

Euroclear Bank ICSD

Clearstream ICSD

Luxembourg Euro

MTF EU

Regulated

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Other products and services

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Information dissemination

Dissemination of financial and market data via:

–  The websites of the Luxembourg Stock Exchange and Finesti

–  Specific dissemination via “snapshot” products (in real time or delayed)

–  Statistics and various reports

Dissemination of documents via: –  The websites of the Luxembourg Stock

Exchange and Finesti

–  Dissemination via “snapshot” products

www.bourse.lu www.finesti.com

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New services

OAM services: filing and archiving of regulated information

–  This service allows issuers to meet part of their obligation under the law of 11 January 2008 on transparency. The Luxembourg Stock Exchange has set up an infrastructure for the filing and archiving of information and data.

–  300 filing entities and 500 issuers

Display and dissemination of notices –  For notices from issuers whose securities

are admitted to the official list. These notices are posted on the website and, in parallel, distributed to data vendors

–  20 to 25 notices / day

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Finesti – our subsidiary for investment funds

Collection, management, dissemination of investment fund data

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Finesti: Subsidiary specialised in the fund industry business

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Serving the fund industry

•  Launched in 1995 by the Luxembourg Stock Exchange, the Association of the Luxembourg Fund Industry (ALFI) and 30 Luxembourg financial institutions

•  Became a 100% subsidiary of the Luxembourg Stock Exchange in 2002 –  Shares strategy and development (infrastructure, resources, projects, etc.) with the Stock Exchange

•  Provides the industry with unique tools to enhance access and distribution of Luxembourg fund information and documents

•  Maintains close cooperation with the local regulatory authority (CSSF) and is a partner of ALFI, the Luxembourg fund association, via common initiatives to promote the Luxembourg fund industry

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Finesti facts and figures

•  Finesti has a direct link to 81 fund administrators in Luxembourg and indirectly to 841 promoters

•  Finesti collects, manages and disseminates key information on all investment funds in Luxembourg

–  100% of NAVs of Luxembourg funds totalling 35,000 share classes

–  27,000 NAVs managed and transmitted on a daily basis

–  41,550 prospectuses, simplified prospectus and financial statements

–  630 FPP (Fund Processing Passports) already published on our website

–  7,600 share classes classified under the EFC (European Fund Classification)

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For further information

www.bourse.lu www.finesti.com 11, avenue de la Porte-Neuve B.P. 165 L-2015 Luxembourg Tel.: (+352) 47 79 36 330 Fax: (+352) 47 79 36 275 info@bourse.lu info@finesti.lu Finesti is a subsidiary of Bourse de Luxembourg