The SAGE system is based on the standards and procedures applied by the Luxembourg Stock Exchange; a benchmark for the sector with 45,500 instruments listed, including 32,000 bonds.

This new step follows the migration in May 2007 of all securities on the Luxembourg Stock Exchange to NSC, the Euronext cash trading system. This is Europe's prime pool of liquidity, and the point of access for an extended membership network.

The partnership between NYSE Euronext and the Luxembourg Stock Exchange has also led to the establishment of an European Economic Interest Grouping (EEIG) under the Luxnext brand.

This has been set up to develop a common standard for the listing and trading of corporate bonds through the use and promotion of a comprehensive, integrated solution incorporating state-of-the-art technology and aligned with the best market practice.

Luxnext will favour transparency, efficiency and innovation in the corporate-bond sector, with the support of targeted marketing and new initiatives in association with the various contributors to market operation.

NYSE Euronext, a holding company created by the combination of NYSE Group, Inc. and Euronext N.V., commenced trading on April 4, 2007. It is the largest and most liquid exchange group, bringing together six cash equities exchanges in five countries and six derivatives exchanges in six countries.

As at 30th September 2007, the exchange represented a combined USD30.3 trillion (EUR21.3 trillion) total market capitalization of listed companies and average daily trading value of approximately USD139 billion.