LuxSE and CSSF ring the bell for Financial Literacy

08/10/2020

LuxSE and CSSF ring the bell for Financial Literacy

The Luxembourg Stock Exchange (LuxSE) today joined forces with the Commission de Surveillance du Secteur Financier (CSSF) to celebrate IOSCO’s 4th World Investor Week, with a virtual Ring the Bell ceremony. As part of this global awareness campaign, organisations across 90 jurisdictions teamed up to highlight the importance of financial education and investor protection.

The ceremony marks the second year in a row where the two institutions have cooperated to host this event, and aims to strengthen public awareness of the importance of financial literacy in Luxembourg.

Global initiative

“We must ensure a green and sustainable recovery from the crisis, where finance is part of the solution. To reach this goal, exchanges and other market participants need to join forces to increase financial literacy and educate all stakeholders. Many market players want to start their sustainability journey, but they lack the required knowledge to do so. This is the main driver behind the LGX Academy,” said Julie Becker, Deputy CEO of LuxSE, during her welcome address.

LuxSE and the CSSF join more than 35 stock exchanges on all six continents that are ringing their famous bells for financial literacy this week. Since the first World Investor Week in 2017, IOSCO’s week-long advocacy efforts aim to highlight the importance of investor education and protection across the world, as well as the initiatives created by exchanges, regulators and other financial institutions in these areas.

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“Financial education is needed at various levels: basic financial education, investor education, but also education in sustainable finance," stated Claude Marx, Director General of the CSSF, during the event.

Education for all

Head of Sustainable Finance at LuxSE, Laetitia Hamon, was also on hand during the ceremony where she presented a short lecture on the Sustainable Finance terminologies used in the LGX Academy curriculum.

In May this year, the LGX Academy was launched to strengthen sustainable finance education and increase financial professionals and students’ knowledge of sustainable finance products, standards and labels as well as applicable regulation and current market practices. The launch of the LGX DataHub followed in September, offering structured sustainability data on Green, Social and Sustainability Bonds. The LGX DataHub enables investors to compare the impact of different securities, and thereby make more informed investment decisions.

The LuxSE Group is composed of the Luxembourg Stock Exchange (LuxSE) the leading listing venue for international securities and Fundsquare, its wholly-owned subsidiary specialized in delivering to the fund industry an efficient and standardized infrastructure for the exchange of information.