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Capital Markets

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The Luxembourg Stock Exchange is the largest stock exchange in Europe in terms of international bond listings with more than 29,000 international bond issues listed. It offers a choice of two markets, the main EU-regulated market called “the Bourse de Luxembourg market" and an exchange-regulated market called “Euro MTF”.

Our Capital Markets team offers a wide range of transactional and advisory services for all aspects of capital markets, derivatives, structured products and structured finance transactions.

"The CMS team was very professional and flexible - they supported us in some urgent manners also in the evenings, their service was of high quality. They also advised on their own initiative about some topics which could have been forgotten about if they hadn't reached out."

IFLR1000, 2021

"We have had the highest regard for the quality of CMS Law's legal expertise, and client-centric service mentality, which straddled multiple domains at the forefront of emerging legislation. It was pragmatic, timely, comprehensive, and willing to take calculated risks on topics which had little legal precedence. The final contract that was generated was reviewed by multiple partners, to ensure compliance with multiple considerations, particular with deep consideration to the specifics of blockchain technology and security token offerings - and their interaction with existing funds and securitisation legislation."

IFLR1000, 2021

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14/11/2022
We­bin­ar Re­cord­ing | Will Block­chain dis­rupt the full funds value chain...
Check out the we­bin­ar re­play to ex­plore to­geth­er with our CMS ex­perts and key del­eg­ates of the fund value chain such as Tokeny, BlocHome/Let­z­Token, Op­por­tun­ity, Caceis, Q  Se­cur­it­ies, Nor­dic­Ninja...
28/10/2022
We­bin­ar Re­cord­ing | At­tract re­tail in­vestors in­to al­tern­at­ive strategies
More than 10 years after the entry in­to force of the AIFM Dir­ect­ive, it is now widely ac­cep­ted that the mar­ket has be­come ma­ture enough to at­tract re­tail in­vestors in­to al­tern­at­ive strategies such...
30/03/2022
We­bin­ar Re­cord­ing | Vir­tu­al As­sets: Tak­ing Lux­em­bourg one step fur­ther
Dur­ing this 45min we­bin­ar, or­gan­ised by CMS Lux­em­bourg about the Vir­tu­al as­sets, the speak­ers are dis­cuss­ing the fol­low­ing:  The grow­ing im­port­ance of vir­tu­al as­sets and emer­ging chal­lenges linked...
22/03/2022
We­bin­ar | Vir­tu­al As­sets: tak­ing Lux­em­bourg one step fur­ther
Vir­tu­al as­sets have un­doubtedly be­come an in­creas­ingly hot top­ic over the last years, with mar­ket play­ers show­ing an in­creas­ing in­terest in prac­tic­al ap­plic­a­tions across vari­ous sec­tors, not­ably in the...
05/01/2022
Lex­o­logy GT­DT - Guide on ESG and im­pact in­vest­ing
In re­cent years, Lux­em­bourg has de­veloped in­to the ul­ti­mate sus­tain­able fin­ance centre in Europe. Sev­er­al ini­ti­at­ives have been launched over the years by the gov­ern­ment, the private sec­tor, vari­ous non-profit in­sti­tu­tions, agen­cies and oth­er au­thor­it­ies, all of them aimed at en­han­cing and fur­ther con­sol­id­at­ing the edge that Lux­em­bourg’s fin­an­cial par­ti­cipants pos­sess on ESG mat­ters.This guide aims to ex­am­ine how Lux­em­bourg leg­ally ad­dress ESG, im­pact in­vest­ing and pur­pose-driv­en com­pan­ies and how it com­pares to oth­er jur­is­dic­tions across the globe. In do­ing so, the pub­lic­a­tion also aims to cre­ate the basis for un­der­stand­ing what is com­mon to each jur­is­dic­tion in these fields, what are the reg­u­lat­ory trends and up­com­ing de­vel­op­ments.
17/12/2021
Lex­o­logy GT­DT - Cryptoassets & Block­chain
Lux­em­bourg is closely mon­it­or­ing emer­ging trends and top­ics re­lated to Vir­tu­al As­sets and block­chain with a view to cre­at­ing a fa­vour­able en­vir­on­ment for such in­nov­a­tions. Non-fun­gible tokens and de­cent­ral­ised fin­ance are hot top­ics. Se­cur­ity tokens are also gain­ing mo­mentum, with ma­jor play­ers will­ing to launch their first pi­lot pro­jects, par­tic­u­larly if they can rely on nat­ive tokens (ie, de­ma­ter­i­al­ised se­cur­it­ies is­sued dir­ectly on the block­chain).As it stands, the Lux­em­bourg leg­al and reg­u­lat­ory frame­work does not gov­ern Vir­tu­al As­sets as such but rather those that provide ser­vices as a busi­ness in re­la­tion thereto. Read the chapter writ­ten by our Vir­tu­al As­sets team in Lex­o­logy Get­ting the Deal Through – Cryptoassets & block­chain  to learn more about the key fea­tures as well as leg­al and reg­u­lat­ory re­quire­ments un­der­pin­ning the Lux­em­bourg re­gime.  Chapters Gen­er­al Leg­al & Reg­u­lat­ory Frame­work­Cryptoassets for in­vest­ment and Fin­an­cingCryptoasset Trad­ingCryptoassets used for pay­mentsCrypto­cur­rency Min­ingB­lock­chain and oth­er dis­trib­uted ledger tech­no­lo­giesUp­date and Trends
24/09/2021
CMS Lux­em­bourg ad­vises IDAP glob­al on world’s first fully-di­git­al private...
In­ter­na­tion­al law firm CMS Lux­em­bourg has ad­vised IDAP Glob­al on the world’s first fully-di­git­al private bond with Black Manta Cap­it­al Part­ners (“BM­CP”) as the primary place­ment agent, fin­an­cing...
05/08/2021
CMS Glob­al Fintech Up­date
The leg­al frame­work in the fintech in­dustry is chan­ging very quickly and some­times var­ies greatly from jur­is­dic­tion to jur­is­dic­tion.Our glob­al up­date, will give you an over­view of the latest changes and top­ics we have been deal­ing with in Europe, Africa and Lat­in Amer­ica re­gion. This will give you an at a glance sum­mary of a num­ber of art­icles that we have pro­duced on a loc­al basis.For a more in-depth ana­lys­is or for any ques­tions, please reach out to your usu­al CMS con­tact or lis­ted in this up­date Fintech ex­perts.
03/06/2021
CMS Lux­em­bourg joins forces with the LHoFT
Lux­em­bourg-based in­ter­na­tion­al law firm CMS Lux­em­bourg is proud to an­nounce that it has joined forces with the Lux­em­bourg House of Fin­an­cial Tech­no­logy (LHoFT) as one of its as­so­ci­ate part­ners. The LHoFT...
16/02/2021
We­bin­ar re­cord­ing | Is­su­ance and set­tle­ment of se­cur­it­ies dir­ectly on the...
On 22 Janu­ary 2021, the le­gis­lat­ive pro­cess came to an end for the bill of law n°7637 al­low­ing not­ably for the is­su­ance of de­ma­ter­i­al­ised se­cur­it­ies on the block­chain. This new piece of le­gis­la­tion is...
06/11/2020
CMS ad­vises Block­trade on its Se­cur­it­ies Of­fer­ing
Block­trade is de­vel­op­ing and op­er­at­ing an in­sti­tu­tion­al-grade di­git­al as­sets ex­change that fo­cuses on cut­ting-edge tech­no­lo­gies, highest se­cur­ity stand­ards, and ex­cel­lent user ex­per­i­ences. CMS acts as...
18/06/2020
We­bin­ar re­cord­ing | Di­git­al As­sets
The world of di­git­al as­sets has been con­tinu­ously ex­pand­ing over the last months. The cur­rent Coronavir­us (COV­ID-19) re­lated crisis will without doubt ac­cel­er­ate the di­git­al trans­form­a­tion of the fin­an­cial...