First, can you please give us an idea of the sort of work your team has done recently? 

The general counsel team of the Luxembourg Stock Exchange (LuxSE) covers several functions including, but not limited to, risk management, secretariat general and legal advisory. From a purely legal perspective, the work is characterised by the wide variety of topics the team is responsible for. LuxSE is a very agile and innovative company always aiming to set the tone at the forefront of the evolution of capital markets. Today, LuxSE’s main focus lies on economic, social and governance (ESG)-related topics as well as the digitalisation of capital markets. Given the complexity and importance of these topics, it can often be challenging for our legal team to create frameworks around new types of products or services. The heart of our work rests in the strong collaboration with our commercial and operational teams, which are the originators of countless successful ideas and projects. Given LuxSE’s unique positioning in the market on certain topics, the general counsel’s work also includes the provision of advice around strategic M&A transactions carried out in recent years, as well as the day-to-day management of such participations. In addition, as representatives of LuxSE, we are also members of several industry associations, actively contributing to their respective working groups which aim to improve the wider capital markets industry. 

What particular industry trends are you seeing in the legal sector in Luxembourg? 

Given LuxSE’s status as an international trading venue, the trends that we observe often go well beyond our domestic market and are of relevance to the international capital market ecosystem as a whole. 

Today, ESG represents a key topic of interest for every commercial company, and LuxSE is fully committed to encouraging the issuer community to take this into account when developing new products. The legal function plays different roles in that context. As a client of many different service providers, LuxSE is determined to limit its collaboration to partners who meet the highest standards. On the other hand, as a service provider for the financial industry, we are currently witnessing a growing demand for detailed information about our exchange. Codes of conducts and due diligence questionnaires are only a few elements of the so-called “know your supplier” process that customers require us to complete on a regular basis. Given the diversity of the information requested, which is often linked to the local requirements and legal standards that apply in other parts of the world, it has become increasingly challenging to satisfy such requests. 

At LuxSE, we are deeply involved in environmental, social, and sustainable projects which we consider a priority. Through the Luxembourg Green Exchange (LGX), the world’s first sustainable finance platform, we are striving to foster the development of financial instruments that contribute to fight climate change and gender inequality and finance our transition into a more sustainable world. 

What is a cause, business related or otherwise, that you care about, and why? 

One part of this commitment, which is also important to me on a personal level, is the development of financial literacy. Today, we still witness too many adults that are not able to successfully manage their financial situation. Recent events, such as the crypto currency turmoil, indicate that the wider public is still lacking an understanding of how financial markets operate. In parallel, as an operator of a stock exchange, we regularly observe how little public knowledge exists about our function and our role within international capital markets. It is therefore of tremendous importance to start educating our children on financial matters and capital markets from an early age and empower individuals with the knowledge and experience to make informed financial decisions.