Securities administration - Luxembourg


Income collection

Market Record dateEx-dateBasis for entitlementStandard interest calculation rule
Corporate bonds and public debt
Payment date -1Payment date -3Settled position
on record date
For bonds issued before
1 January 1999: 30/360;
For bonds issued after
31 December 1998: Actual/Actual
Investment funds
NoneNoneSettled position
on record date
Payment date -1Payment date -3Settled position
on record date
Not applicable

Corporate actions

Most common corporate events The most important corporate actions on the Luxembourg market are: tender offers, rights issues, bonus issues, exchange offer. Mergers, takeovers, convertible bond conversion etc. are rarely seen on the Luxembourg market.

Events on investment funds include, but are not limited to, bonuses, capital distributions, choice dividends, exchange, issue data changes, liquidations, mergers, reorganisations, purchase offers, repurchase offers, stock dividends, stock splits, reverse splits, subscription offers, tender offers.

Early redemptions

Drawings on securities deposited in VP Securities A/S are performed according to a percentage-based drawing procedure. This applies to drawings on Danish mortgage credit institution bonds denominated in Euro as well as to drawings on Danish government bonds denominated in Euro. The percentage rate announced in the market will always be a factor with ten decimals.

Organisation of AGM/EGMs

AGMs and EGMs are generally announced through the official gazette (Mémorial) and in a local newspaper. Corporations must hold a general meeting of shareholders at least once a year.

Proxy Voting procedures

Proxy voting is allowed on the Luxembourg market.

Market compensation rules

Please refer to the Clearstream Banking Transaction Management Rules - Luxembourg and the Customer Handbook.