- On January 22, Nasdaq Baltic listed companies with the best investor relations practices during 2014 were recognized during the 9th annual Baltic Market Awards ceremony held simultaneously by live video bridge between Nasdaq Tallinn, Nasdaq Riga, and Nasdaq Vilnius. Tallinna Vesi won the main award, for Best Investor Relations in the Baltics, for the second consecutive year. SEB Pank was named as Member-of-the-Year. Ventspils Nafta took first place in the category Best in Interactive Investor Relations. A new category was introduced this year: the Most Attractive Company on the Nasdaq Baltic Market. Based on voting by 2,076 investors on the Nasdaq Baltic website between January 6th and 13th,, the award went to Tallinna Vesi. Nasdaq Tallinn, Nasdaq Riga, and Nasdaq Vilnius also established special awards for outstanding contributions to the development of the Baltic Securities Market in 2014. Nasdaq Tallinn’s special award went to FinanceEstonia, Invalda LT was awarded by Nasdaq Vilnius, and Jānis Dubrovskis, Member of the Executive Committee and Chief Financial Officer of Baltikums Bank AS, was named the winner by Nasdaq Riga. Finally, results of the annual competition for the best student theses regarding the Baltic capital market were announced for all three Baltic countries.
- On February 25, the Nasdaq Baltic and Nasdaq Nordic stock exchanges, in cooperation with Morningstar, launched Fact Sheets for all Baltic and Nordic listed companies. This initiative gives investors access to key financial data for the more than 800 companies traded on Nasdaq’s Nordic and Baltic markets.
- On March 9, LHV Pank became the first Pan-Baltic Certified Adviser on First North, eligible to advise companies pursuing admission of their financial instruments to First North in all three Baltic countries.
- On March 16, Nasdaq announced the launch of the First North Bond Market – a new service on the Nasdaq Baltic Market that will let growth companies more easily and quickly attract financing on the market.
- On March 18, the First North Bond Market began functioning in the Baltics with admission for trading of the first corporate bonds – an issue by AB Bobutės Paskolaof 2,000 bonds.
- From January 1, when Latvia became the 18th EU member state to join the Euro area, NASDAQ OMX Riga and the Latvian Central Depository successfully changed over to the euro for both trading and settlement. Thus the euro became the common trading and settlement currency for companies listed on the NASDAQ OMX Baltic market.
- On January 30, the winners of the annual Baltic Market Awards, recognizing the NASDAQ OMX Baltic listed companies with the best investor relations practices during 2013 as well as the Member-of-the-Year. For the eighth year in succession, the ceremony took place simultaneously in Riga, Vilnius, and Tallinn via a video bridge. Tallinna Vesi for the first time won in the main category, Best Investor Relations in the Baltic Market. LHV Pank received the award for Member-of-the-Year. And Ventspils Nafta received the award for Best Interactive Investor Relations. During the ceremony, the stock exchanges also recognized the authors of the best student theses on the topic of the Baltic capital market.
- On April 14, NASDAQ OMX Riga granted Certified Adviser status to the Estonian law firm VARUL AS, which thus became the first Baltic Certified Adviser for the NASDAQ OMX Baltic First North Market.
- On May 27, the first Baltic Capital Market Forum, titled “Capital Market as a Driver of Economic Growth and Job Creation,” was organized in Riga by the NASDAQ Baltic exchanges. The Forum highlighted the fact that a developed capital market is fundamental for further growth of the Baltic economies.
- On October 1, NASDAQ OMX Group, Inc. adopted the new brand name Nasdaq to better reflect its global strategy. As a result, the Nasdaq Baltic exchanges will adopt the brand names Nasdaq Tallinn, Nasdaq Riga, and Nasdaq Vilnius. For the moment, the company names of the legal entities that operate the stock exchanges will be left unchanged as NASDAQ OMX Tallinn AS, NASDAQ OMX Riga AS, and AB NASDAQ OMX Vilnius. Indices and data products will also retain OMX as part of their names for the time being.
- On October 6, the NASDAQ OMX Copenhagen, Helsinki, Iceland, Stockholm, Tallinn, Riga, and Vilnius exchanges implemented a two-day standard settlement (T+2) cycle for securities listed on these exchanges and First North alternative markets.
- On October 10, the founders of the TOP10 Most Valuable Baltic Enterprises – Prudentia and Nasdaq Riga – introduced the newly launched website www.top101.lv to media representatives as an information source and analytical resource.
- On October 15, during the Latvian Most Valuable Enterprises TOP101 ceremony, Latvenergo was awarded as the Most Valuable Enterprise in Latvia. It was the ninth annual such ceremony organized by Prudentia and Nasdaq Riga. Valmieras stikla šķiedra won the Nasdaq Riga special award for The Enterprise with the Biggest Share Price Increase. For the first time this year, Prudentia and Nasdaq Baltic compiled a TOP 10 list of Baltic companies according to business value. Swedbank Group was awarded as the Most Valuable Enterprise in the Baltics. The TOP 10 list of Baltic companies by business value was posted on www.top101.lv.
- On January 23, bonds issued by the fully state-owned Latvian energy company Latvenergo were included on the Baltic Bond List, thus enabling investors to trade them on the Baltic regulated market.
- On January 24, the annual Baltic Market Awards ceremony took place simultaneously in Riga, Vilnius, and Tallinn, linked by video bridge. Winners were announced and awarded from among the NASDAQ OMX Baltic listed companies for best investor relations during 2012, and the Member-of-the-Year was named. The main awards, in five categories, went to TEO LT, Latvijas kuģniecība and LHV Pank. NASDAQ OMX Riga presented its own 2012 Stock Exchange Award and recognized the authors of the best student research papers on the Baltic capital market. ABLV Bank won the NASDAQ OMX Riga Special Stock Exchange Award for its significant contribution to development of the capital market in Latvia by expanding the available range of financial instruments and services.
- On June 19, the Latvian Central Depository started a new service related to Latvian government savings bonds. LCD is in charge of accounting, safekeeping and settlement for Latvian government savings bonds, assuring investors that transactions are safe and lawful. Latvian savings bonds are available for purchase at www.krajobligacijas.lv.
- A new website was introduced for the Baltic Fund Center: www.fonducentrs.lv. This information environment makes it easier for investors to obtain information about investment funds in Estonia, Latvia, and Lithuania.
- Starting July 1, a new Market Making Program was launched in the Baltic Market, with the purpose of enhancing liquidity.
- On September 14, NASDAQ Vilnius and the Central Securities Depository of Lithuania celebrated their 20th anniversary.
- On September 26, the Latvian Central Depository signed a TARGET2-Securities (T2S) participant agreement with the European Central Bank. The agreement establishes the legal framework between the Eurosystem and each of central depositories who join T2S, an IT platform for securities settlement that facilitates financial market stability and increases post-trade transparency.
- On October 16, during the Latvian Most Valuable Enterprises TOP101 ceremony, Latvenergo was awarded as the Most Valuable Enterprise in Latvia. The ceremony, organized by Prudentia and NASDAQ OMX Riga, took place for an eighth year. Olainfarm received the NASDAQ OMX Riga special award for “The Fastest Growing Listed Company in Latvia’s TOP 101”.
- On October 30, major upgrades to the website www.manapensija.lv were introduced by the Latvian Central Depository in cooperation with the Investment Management Company Committee of the Latvian Association of Commercial Banks and the State Social Insurance Agency. The site now provides one-window fast access to abundant information on the Latvian pension system and asset management, also making it possible to compare investment plans and use a personalized pension calculator.
- On January 26, during a special Baltic Market Awards ceremony NASDAQ OMX Baltic listed companies having the best investor relations in 2011 were announced and awarded. The prize-giving ceremonies took place simultaneously in all three capitals of the Baltic states and were merged into one via a video bridge. The investor relations practiced by TEO LT were recognized to be the best in 2011 in the Baltic markets, while the best investor relations in their respective markets were demonstrated by Grindeks in Riga, TEO LT in Vilnius and Tallinna Vesi in Tallinn.
- In January, Kaspars Kurmiņš from Citadele banka was named Broker of the Year2011, while Special Award 2011 went to Salvis Lapiņš, a Management Board Member of Olainfarm, who responded to the stock exchange invitation to participate in investor webinar, first-ever in the Latvian market.
- On March 27, Daiga Auziņa-Melalksne, Chairman of NASDAQ OMX Riga Management Board, was elected the Chairman of the Board of Baltic Institute of Corporate Governance by the annual general meeting. The BCIG Board consists of nine top-level executives from all three Baltic States.
- On March 26, the Latvian Central Depository settlement system was recognized as compliant with the ESCB-CESR recommendations.
- On October 17, Latvia’s TOP 101 companies by business value in 2012 were announced in a list compiled annually by Prudentia and NASDAQ OMX Riga. For the fourth year running, Latvenergo was recognized as the Most Valuable Company in Latvia. Simultaneously with publication of the list of Latvia’s 101 Most Valuable Companies, the National Capital Award ceremony was held, where a special award was given to Olainfarm for the impressive growth and increase in value it attained through successful penetration of export markets. Another special award went to ABLV Bank for its dedicated effort to grow by raising capital via the issuance of corporate bonds.
- The annual Baltic Market Awards ceremony took place in early 2011, where the winners of the Baltic Market Awards 2010 were announced, recognizing the best practices in the Baltic securities market. TEO LT was awarded for the Best Investor Relations in the Baltic Countries and was also recognized as having the Best Investor Relations in NASDAQ OMX Vilnius and the Best Annual Report in the Baltic market. Latvian company Grindeks was awarded for the Best Investor Relations Online and also won the award for the Best Investor Relations in NASDA Q OMX Riga. SAF Tehnika, another Riga-listed company, was awarded for the Best Investor Relations among Small Cap Companies. Tallinna Vesi was admitted to have the Best Investor Relations in NASDA Q OMX Tallinn. The prize for the Most Visible Improvement over the year went to Grigiškės from Lithuania which had improved its performance by 33%. SEB Bankas from Lithuania became Member of the Year.
- As part of the Baltic Market Awards ceremony, NASDAQ OMX Riga awarded its traditional annual awards. Deniss Makedonskis from Finasta was named Broker of the Year 2010, while Special Award 2010 went to Alminas Žaldokas, a lecturer from Stockholm School of Economics in Riga, who has been tutoring several research papers that have won prizes at the annual theses contests organized by the stock exchange.
- Laurynas Barauskas and Justinas Noreika, students from Stockholm School of Economics in Riga, won the contest of bachelors and masters theses with their bachelor’s thesis entitled „Momentum in Mature and Emerging Markets under Different Market States: the Case of the Baltic Region”. The authors were awarded with a money prize of 1000 EUR.
- In March, NASDAQ OMX Baltic exchanges made it possible for its members – banks and brokerage companies – to directly access North American markets, thereby the USA and Canadian equities now are available to Latvian investors. Members can execute their trades using existing technical connections and trade in the USA and Canadian securities as easily as in the Baltic stocks.
- In March, AS „Goldinvest Asset Management” was the first company to join First North Baltic, NASDAQ OMX alternative market. AS ”Goldinvest Asset Management” is in the business of purchasing, recycling and selling of precious metal. Companies are subject to somewhat lighter regulation when traded on the First North, and alternative market is accessible to a broader company base than the regulated market.
- In June, a new trading platform Genium INET for fixed income securities was successfully launched in the Baltic and Nordic markets. Also the Treasury auctions for Latvian government bonds are run on this platform.
- On July 22, Prime Minister Valdis Dombrovskis visited NASDAQ in the USA and participated in the closing bell ceremony in the Times Square. The closing bell ceremony takes place in the „NASDAQ” MarketSite TV Studio and is telecast to the Times Square, and also the leading business channels, such as CNBC, Fox Business, BNN, and Bloomberg TV, join in.
- In July, NASDAQ OMX Riga undertakes a comprehensive study about adopting euro as a trading and settlement currency in the Latvian securities market. Though euro is not yet the official currency in Latvia, NASDAQ OMX Riga offers two alternative solutions how to introduce euro in the securities market already now. This initiative is supported also by the Financial and Capital Market Commission, domestic and foreign investors, stock Exchange members – Latvian and foreign banks and brokerage companies, and the leading Latvian investment banks.
- On September 12, before the extraordinary Parliament (Saeima) elections, NASDAQ OMX Riga jointly with economists’ association „Ekonomistu apvienību 2010” organizes debate of political parties on the topic “Where and how to raise money for economic development?” Politicians arrived to a conclusion that development of the stock exchange is crucial for the overall development of Latvian capital market, because it is the only option providing transparency and avoiding the domineering of small groups in the process when state-owned companies are sold.
- On October 18, NASDAQ OMX Riga presents a free application Qfolio, allowing private investors to monitor equity price movements from their smartphones and iPads. The application allows viewing the prices of Latvian and Baltic as well as global company stocks such as Apple, Google, Carlsberg etc.
- On November 1, NASDAQ OMX Riga, investment banking company IBS Prudentia and magazine „Kapitāls” release the study results on TOP 101 most valuable companies in Latvia. AS Latvenergo with its business LVL 974 million worth was named the highest- value company in Latvia.
- On December 1, the 6th NASDAQ OMX Riga-organized investor conference on money matters „Naudas Lietas” took place. The conference program included a discussion of high-ranking experts about protection of own investments, liquidity and yield in the crisis environment; presentations of listed companies; and beginners’ workshop „Investora ABC”.
- On December 8, the Embassy of the United States in Riga and the Baltic Institute of Corporate Governance hosted a high level panel discussion on the best governance practices at the State Owned Enterprises (SOEs) in Latvia. The goal of the discussion was to support a public debate and efforts towards improving Latvia’s economic outlook, promoting transparency, and fighting corruption through seeking appropriate solutions in the governance of SOEs.
- On February 8, NASDAQ OMX Nordic and Baltic exchanges introduced new trading system for equity trading – INET, the most advanced securities trading technology in the world. As a result all NASDAQ OMX equity markets across the world trade on the same global trading platform.
- In February, the internet-based trading platform e-Broker was upgraded, thereafter offering its users a number of significant enhancements and new functionalities.
- In February, a correlation between the stock price index OMX Riga movements and the Latvian GDP growth pattern was identified in a study initiated by the stock exchange. The research results suggest that stock price dynamics can be used for forecasting the trends in the Latvian economy a half year later. Though the appreciation of stock prices is not a guarantee to economic upturn, with a 75% probability, the price dynamics tend to be replicated by GDP dynamics two quarters later. This is the first ever study on using a stock price index for forecasting purposes with regard to the economic outlook in the Baltic countries.
- In March, within the framework of the Baltic Summit organized by the Baltic Institute of Baltic Corporate Governance Daiga Auziņa-Melalksne, CEO of NASDAQ OMX Riga, participated in a discussion on the topic of governance of state-owned enterprises in the Baltics and the necessity to of guidance for corporate governance.
- On March 23, Daiga Auziņa-Melalksne, CEO of NASDAQ OMX Riga, was elected to the Board of the American Chamber of Commerce in Latvia. Taking up this position, the intentions are to promote a transparent, predictable and conducive business environment in Latvia.
- In June, with the objective to encourage investing in securities, NASDAQ OMX Riga published a stock exchange newsletter explaining in a simple way how the stock exchange operates, its role in the national economy and in raising capital to businesses, as well as the investment options. The newsletter was delivered to over 30,000 Latvian subscribers to printed media.
- In August, NASDAQ OMX Riga and Latvian Central Depository celebrated the 15th anniversary since the inception of securities market in Latvia. The first trading session took place and the first trades were settled by the Latvian Central Depository in 1995. Artis Kampars, Minister of Economics, expressed his appreciations to the progress made by the stock exchange within these 15 years, and confirmed his support to the initiatives by NASDAQ OMX Riga in establishing a transparent business environment and the principles of good corporate governance in Latvia.
- In September, the Baltic Institute of Corporate Governance in collaboration with the key financial experts, including experts from NASDAQ OMX Riga, for the first time compiled and analyzed information on the Latvian state-owned enterprises, their financial position and also compared their financial performance with that of peer companies in Europe and the Baltic countries. The conclusion: provided that the assets of state-owned companies are managed as efficiently as in comparable companies in Europe, their annual dividend contribution to the government budget would increase by 75 million LVL (last year, state-owned companies paid dividends in the amount of 185 million LVL). After studying the Report, Prime Minister Valdis Dombrovskis suggests to set up an intersectoral working group with the assignment to develop state-owned asset management policy.
- In October, NASDAQ OMX Riga developed a video guides for investors how to use its own website and also that of Baltic Fund Center.
- In November, for the fifth year in row NASDAQ OMX Riga, teamed up with investment banking company Prudentia and magazine Kapitāls and compiled a list of Top 101 Latvian most valuable businesses. The companies are ranked according to their business value. Latvenergo was the most valuable company in Latvia in 2010 with a business value of over 1 billion LVL.
- In December, the annual conference „CEO Meets Investor” was organized. Private investors and other securities market representatives had an opportunity to meet in person Chief Executive Officers of several Baltic-listed companies and get their vision of the key events in their company’s business and future outlook. This year, the management of Liepājas Metalurgs, SAF Tehnika, Olainfarm and TEO LT participated in the conference. In the final part of the conference there was a seminar where securities experts discoursed on risk diversification, the methods of forecasting share price movements, the most prospective companies in the Baltics and the possibility to make profit in case of share buyback offers. More information: www.naudaslietas.lv.
- On January 10, the Riga Stock Exchange changed its official company name to NASDAQ OMX Riga. The new name is expected to give an unequivocal message that the stock exchange is a part of NASDAQ OMX, the leading global stock exchange group.
- As of January 12, NASDAQ OMX Baltic exchanges have launched real-time last price display on the website – previously, it used to be with a 15 minutes delay.
- As of February 2, NASDAQ OMX Baltic exchanges have extended the trading session by two hours, to close at 16:00, with a purpose to attract more foreign investors and increase the trading volumes in the Baltic market.
- In March, NASDAQ OMX Riga accomplished the implementation of its initiative on publishing a book „No idejas līdz panākumiem. Alternatīvie finansējuma avoti” (in the Latvian language) dealing with the alternatives to bank loans when a company needs to raise capital. Daiga Auziņa-Melalksne, Chairman of Management Board, is among the authors of the book.
- In April, NASDAQ OMX Riga became a member of the American Chamber of Commerce in Latvia, simultaneously joining the declaration of good corporate citizenship. Thus, NASDAQ OMX Riga attests its commitment to work to the benefit of both its shareholders and community, assure the transparency of business environment, be environment-conscious, care for its employees and other stakeholders.
- On May 28, NASDAQ OMX Baltic Exchanges announced the establishment of Emerging Nordic Research (ENR), the first independent institutional equity research company founded with the aim of serving institutional investors. The ENR research will only be available to institutional and professional investors and will concentrate rather on investment ideas than on the traditional investment recommendations to buy, sell or hold.
- In August, NASDAQ OMX Riga involves itself in the foundation of the Baltic Corporate Governance Institute. The institute is a not-for-profit initiative, and its goal is to raise the awareness of good corporate governance in the Baltic region.
- On October 21, the stock exchange invited private investors and securities market professionals to the annual conference CEO Meets Investor 2009. The CEOs of Tallink Grupp, Olympic Entertainment Group, City Service, Olainfarm and Valmieras Stikla Šķiedra presented their companies’ business, financial performance and future plans to the audience.
- In October, Latvenergo was ranked as the most valuable company in Latvia with business value LVL 871 million. The evaluation of TOP 101 Latvian companies has been performed already for the fourth time by NASDAQ OMX Riga, investment banking company IBS „Prudentia”, magazine for business ideas „Kapitāls”, and supported by information partner „Lursoft”.
- The stock exchange annual award ceremony took place on December 10. Nataļja Oha from SEB banka became Broker of the Year 2009, while Special Award went to Stockholm School of Economics in Riga for its more than 15-year-long contribution to promoting the Latvian stock market.
- The Baltic Market Awards ceremony took place on December 10, when the best companies in the Baltic market in terms of investor relations during 2009 were awarded. TEO LT was awarded the Best Investor Relations in the Baltic Countries and also the Best Investor Relations in NASDAQ OMX Vilnius. SAF Tehnika was awarded for the Best Investor Relations among Small Cap Companies and for the Best Investor Relations in NASDAQ OMX Riga. Tallinna Vesi was awarded for the Best Annual Report and for the Best Investor Relations in NASDAQ OMX Tallinn. The Most Visible Improvement over the year in Investor Relations in the Baltic Countries was made by City Service from Lithuania. As to Best Investor Relations Online, four companies were awarded – Grindeks, SAF Tehnika, TEO LT un VST. The Member of the Year in the Baltic countries award was given to AB SEB bankas from Lithuania.
- As in the previous years, in December the stock exchange awarded the authors of the best students’ theses in Latvia. This year Ernesta Orlovaite and Aurimas Račas, Stockholm School of Economics in Riga students, won a EUR 1000 prize for their joint research paper “In Search of Money Illusion in CEE Stock Markets: The CAPM Approach”.
- On January 1 Riga Stock Exchange reduced commission fees for its members. Fee on manual trades was reduced for 40%, the fee for trades executed in Automatch market was reduced for 10%.
- On February 27 OMX AB, a parent company of Riga Stock Exchange and Latvian Central Depository, combined with the largest US electronic securities exchange The NASDAQ Stock Market, Inc. creating the world’s largest exchange company, The NASDAQ OMX Group, Inc.
- Starting with March, investors have been able to tailor their own subscriptions to listed company news and the Riga Stock Exchange notices, to be received on-line by e-mail.
- On June 11, the Riga Stock Exchange published the first in Latvia digital guide to investing in shares under the title „10:00 – 14:00. Vērtspapīru tirgus. Latvijas pieredze 2008” (10:00-14:00. Securities Market. Latvian Experience 2008). The Guide is available on internet in the Latvian and Russian languages free of charge.
- In October, Latvia’s TOP 101 companies according to business value were announced. This exercise was carried out already for the third year running in the framework of a joint project by the Riga Stock Exchange, business magazine Kapitāls and IBS Prudentia, an investment banking company.
- On October 22, the 3rd conference CEO Meets Investor 2008 was held. Investors were able to attend face-to-face meetings with the chief executives of listed companies: three Latvian companies – Valmieras stikla šķiedra, SAF Tehnika and Olainfarm; a Lithuanian company Apranga; and an Estonian company Eesti Ehitus. This year, a panel discussion was introduced in the agenda of the conference. The participants were industry experts and professionals: N. Točelovska (SEB banka), J. Praņēvičs (Parex Asset Management) and M. Kazāks (Swedbank).
- In November, technical upgrades were made to the Baltic Fund Centre. The improvements now allow automatic sorting, and the funds can be selected by several criteria. Also, the comparing of performance of several funds in one chart has become possible; it is possible to sort funds according to investment region.
- In December, the Riga Stock Exchange awarded the best participants of the Latvian securities market. J. Janovskis (Swedbank) became Broker of the Year. Journalists A. Pelane and I. Ukenābele (news agency BNS) were the winners of Special Award.
- In December the winners of The Baltic Market Awards 2008 were announced. SAF Tehnika from Latvia was awarded for The Best Investor Relations in the Baltic Countries. SAF Tehnika was the winner in two more categories – The Best Investor Relations in the Baltic Countries among Small Cap Companies and The Best Investor Relations in the Riga Stock Exchange. Baltika and TEO LT were the companies to win the prize The Best Investor Relations in the Tallinn Stock Exchange and The Best Investor Relations in the Vilnius Stock Exchange. Grindeks was awarded The Best Investor Relations Online; VST won the award for The Best Annual Report; Eesti Ehitus won award for The Most Visible Improvement over the Year in Investor Relations. The Member of the Year prize was awarded to SEB Bankas from Lithuania.
- On January 1 Baltic stock exchanges introduced joint OMX Baltic Membership in order to further integrate the Baltic securities market.
- On January 11 Riga Stock Exchange Surveillance Committee commenced its operations. The Riga Stock Exchange has delegated a part of its functions related to surveillance of regulated market to an independent body.
- On February 19 OMX’s Nordic and Baltic information service, Company News Service, went live. The service serves as a portal for information about companies on the Nordic Exchange.
- On April 2 Riga Stock Exchange signed the letter of intent with the following companies from financial consultancy sector “Biznesa risinājumi”, “KPMG Baltic”, “Laika stars” and “PriBalt” on co-operation on development of alternative securities market “First North” in Latvia.
- On May 21 a new list structure was introduced on OMX stock exchanges in Tallinn, Riga and Vilnius. The new list structure has two notable changes: modified admission and listing criteria on Baltic Main List and a new list – Baltic Secondary List – created by merging current Baltic I-List with Free List in Riga.
- On June 1 OMX launches the alternative market First North in Latvia. The launch of First North opens vast growth opportunities for small and medium sized companies in Latvia that faced limited access to equity financing before.
- On August 31 futures on the tradable index OMX Baltic 10 (OMXB10) were introduced marking the first exchange-traded derivatives on a Baltic underlying exposed to investors in one of the leading derivatives marketplaces in Europe.
- On September 17 index OMXR reached all – time high in the history of Riga Stock Exchange – 759.44.
- From September till November four companies – Eventus Partners, SEB Enskilda, Deloitte Latvia and LAIKA STARS – became certified advisors on Riga Stock Exchange alternative market First North.
- In October Riga Stock Exchange in cooperation with business journal „Kapitāls” and investment bank „IBS Prudentia” for the second year already developed TOP 101 of the most valuable companies by the business value in Latvia.
- On October 30 Riga Stock Exchange for the second time organized conference “CEO Meets Investors” in order to introduce private investors to the listed companies on the Baltic Market. The participants of the conference were: on Riga Stock Exchange listed Olainfarm, SAF Tehnika, Grindeks and Latvijas kuģniecība; on Tallinn Stock Exchange listed Olympic Entertainment Group and on Vilnius Stock Exchange listed City Service.
- From November 1 the Baltic Market stock exchanges decided to implement the following changes in the Baltic Market setup: to review and harmonize the trade types on the Baltic Market, to introduce a Pre-trade anonymity, new block trade criteria and deferred publication option for members.
- From November 1 the Baltic exchanges discontinued disclosing member firms’ ID codes with orders on the Equities submarket through implementing Pre- trade anonymity.
- In December the winners of the Baltic Market Awards 2007 were announced. TEO LT from Lithuania was awarded for the Best Investor Relations in the Baltic Countries, while Hansapank from Estonia won the title of Member of the Year. The winners of other categories were – Eesti Telekom: The Best Investor Relations in Tallinn; TEO LT: The Best Investor Relations in Vilnius; SAF Tehnika: The Best Investor Relations in Riga and The Best Investor Relations among Small Cap Companies; Olainfarm: The Best Investor Relations Online; This year awards were also given in two new categories: Sanitas won the award for The Best Annual Report; Silvano Fashion Group won award for The Most Visible Improvement over the Year in investor relations.
- On January 1 Riga Stock Exchange introduced Corporate Governance principles and recommendations for their implementation.
- On January 11 Investor Calendar was introduced, which makes it easier for investors to follow the issuers’ announcements.
- On February 20 Riga Stock Exchange conducted a meeting with educators from Latvian universities and colleges. The educators received a copy of textbook on capital market “Vērtspapīru tirgus zinības” as a gift. This is already the second edition of the book, revised and updated.
- On March 15 OMX’s exchanges in Tallinn, Riga and Vilnius launched The Baltic Market Awards. The annual contest will identify and rank the best Baltic market participants.
- On March 24 the Tallinn, Riga and Vilnius stock exchanges opened the Baltic Fund Center – an information environment on investment funds for investors. The Baltic Fund Center brings more transparency to the funds and helps to make investment decisions.
- On October 5 in Riga Stock Exchange the privatization cash auction of 40,345,556 (38.62%) state-owned Ventspils nafta shares was a success. The price was LVL 1.84 per share, thus raising LVL 74.2 million to the state. Sale was organized by “Parex banka”, “Suprema” and “Suprema Securities”.
- On October 12 Riga Stock Exchange for the first time organized event „CEO Meets Investors” in order to introduce active private investors to the listed companies on the Baltic Market and to facilitate liquidity in the Baltic Market.
- On November 1 Riga Stock Exchange in cooperation with business journal „Kapitāls” and investment bank „IBS Prudentia” developed TOP 101 of the most valuable companies by the business value in Latvia.
- On December 4 OMX introduced the new Batlic index family, which includes the Baltic All-share (OMX Baltic), Benchmark (OMX Baltic Benchmark), Tradable (OMX Baltic 10) and Sector indexes.
- On December 7 the winners of the Baltic Market Awards 2006 were announced. TEO LT from Lithuania was awarded for the Best Investor Relations in the Baltic Countries, while Hansapank from Estonia won the title of Member of the Year. Eesti Telekom: The Best Investor Relations in Tallinn; TEO LT: The Best Investor Relations in Vilnius; SAF Tehnika: The Best Investor Relations in Riga and The Best Investor Relations among Small Cap Companies and The Best Investor Relations Online.
- On January 26 Gundars Kokorevičs, President of Riga Stock Exchange, announced his intention to leave OMX Exchanges on March 30, 2005 and to take on his new position, as responsible for Business Development at Dalkia International in Latvia.
- On February 11 Daiga Auziņa-Melalksne was elected Chairman of Management Board (previously – Deputy Chairman of Management Board), to start on March 31, 2005. Indars Aščuks was elected Deputy Chairman of Management Board. Previously he was a member of the Riga Stock Exchange and Latvian Central Depository Management Board, and Integration Project Manager.
- On April 26 BALTIX index exceeded 500 points.
- On June 13 Riga Stock Exchange was selected by Minister of Finance as the financial agent for primary placement of Government debt securities. The RSE will run on the SAXESS trading platform the primary placement auctions of Government debt securities according to three models – competitive multiprice auction, fixed rate auction and taps.
- On July 1 as a part of the integration of the Nordic and Baltic securities markets, all six OMX exchanges started to use the same Global Industry Classification Standard (GICS) for classifying listed securities.
- Latvian Government T-bill competitive multi-price auction for the first time was run on the Riga Stock Exchange SAXESS trading system on July 6, 2005; non-competitive fixed rate auction – on July 7, 2005.
- Starting with August 1, the trading system in Riga and Tallinn stock exchanges are complemented by a new market segment for debt securities. The orders are matched automatically according to yield to maturity specified in the buy or sell orders. The launch of the automatch submarket for debt securities in the Riga and Tallinn stock exchanges is another step in harmonization of the cash markets in the Baltics.
- On October 3 OMX harmonized the index name structure for OMX exchanges in Stockholm, Helsinki, Copenhagen, Tallinn, Riga and Vilnius. The change was part of OMX’s strive to create an integrated and efficient Nordic Baltic marketplace. The name structure was constructed around the OMX name, the specific stock exchange and the index of choice.
- On October 31 Riga Stock Exchange, in alliance with Latvian colleges and universities, announced a contest of bachelor thesis on topical issues in the Latvian capital market. The purpose of the contest is to encourage the students to do research on the Latvian capital market itself and the opportunities it is opening to the businesses, as well as to increase the awareness of the role of capital market in national economy. The task of the participants is to write a bachelor thesis in economics.
- On December 1, the Riga Stock Exchange annual awards were distributed to the best market participants. Broker of the Year 2005 went to Aigars Rubiķis from “SEB Latvijas Unibanka”, Contact Person of the Year 2005 went to Viktorija Žuka-Nikuļina from “Olainfarm”, and Stock Exchange Special Award 2005 went to “Grindeks”.
- Starting with January 1, the 15% price spread limit was lift for Free list companies. The resolution has been passed considering that for a number of Free list companies the average mean price has been some santims, thus, lifting the price spread may give more opportunities to the buyers and sellers to arrive at a mutually acceptable price in a shorter time.
- Starting with March 29, trading with fund units is possible on the RSE. The first tradable funds are “Baltic Index fonds” and “Valsts obligāciju fonds” – both open-end. Thus, there are two types of funds listed – traded and non-traded.
- On March 29 Daiga Auziņa Melalksne was appointed a Riga Stock Exchange Vice-president.
- On April 7 a new NOREX agreement was signed between HEX Integrated Markets and Copenhagen Stock Exchange, Oslo Stock Exchange and Iceland Stock Exchange. The new agreement provides for Helsinki, Tallinn and Riga exchanges joining the NOREX alliance.
- On May 18 the Riga Stock Exchange organised a conference on IPO. This was the first conference on this topic ever organised in Latvia.
- Starting with August 1, new ticker symbols are assigned to the RSE listed shares and fund units, in anticipation of migration to the SAXESS trading platform at the end of September.
- As of September 1, as a part of a comprehensive brand strategy project, OM HEX AB – owner and operator of Northern Europe’s largest securities marketplace and a leading provider of transaction technology, processing and outsourcing solutions – has changed name to OMX AB.
- On September 27, OMX Exchanges’ marketplaces in Helsinki, Tallinn and Riga successfully launched the common Nordic trading platform SAXESS™, already in use at the Stockholm Stock Exchange, for trading on the cash markets. The launch of SAXESS, developed and operated by OMX Technology, is a milestone in OMX’s effort to realize the vision of an integrated Nordic and Baltic securities market.
- On July 21 the first closed-end fund listed on the RSE Investment Fund list – “Baltijas nekustamā īpašuma fonds”, with Parex Asset Management as the asset manager.
- On September 4 HEX Group (Finland), owner of the RSE, merged with OM Group (Sweden), thus creating the OMHEX Group – a leading market services and solutions provider in global financial and energy markets. HEX Integrated Markets, a division of OMHEX, is the operator of the largest securities market in the Nordic/Baltic region and consists of Stockholmsbörsen, Helsinki, Tallinn and Riga stock exchanges, as well as the central securities depositories in Finland, Estonia and Latvia. HEX Integrated markets gives access to 80% of the Nordic and 75% of the Baltic equity markets.
- On December 7 the Riga Stock Exchange celebrates the 10th anniversary since foundation.
- On December 11 the traditional RSE annual award giving ceremony took place. The awards went to: “Broker of the Year 2003” – Andrejs Martinovs from Latvijas krājbanka; “Contact Person of the Year 2003” – Gundega Vārpa from Ventspils nafta, and “Special Award” – Ieva Mārtiņa from BNS.
- In April the all-times largest public privatisation auction for vouchers takes place at the RSE. Over 64 million shares or 32% of Latvijas kuģniecība shares were auctioned at the price of LVL 1.11 per share.
- On June 26 the all-times largest public privatisation auction for cash takes place at the RSE. 102 million shares or 51% of the Latvijas kuģniecība shares were auctioned at total value LVL 35.7 million. The offer and the auction was organised by the Riga Stock Exchange in co-operation with investment bankers Suprema and Williams de Broe.
- In August a major European stock exchange group, HEX Group (Finland), becomes the main shareholder of the RSE. HEX Group is an international group consisting of the stock exchanges and central securities depositories of Finland, Estonia and Latvia. Simultaneously, the RSE becomes a 100% owner of the Latvian Central Depository. As a result, a group has been created which provides securities trading, settlement and custody services in the Latvian market, and is expected to promote the market development and increase the variety of services. Consolidation of trading and settlement services into a single group is typical for a number of European markets.
- On April 17 investment fund units are first listed on the RSE, namely, Baltic Index Fund (closed-end), managed by Baltikums Asset Management.
- On June 29 the Riga Stock Exchange president Guntars Kokorevičs is elected the Managing Director of Latvian Association of Professional Capital Market Participants. Further on he will represent the interests of market participants at Financial and Capital Market Commission Consultative Council.
- A new Enforcement Note on Securities lists has been developed and adopted. It fully complies with the respective EU Directives and the requirements of the Nordic stock exchanges.
- Pursuant to the new enforcement note, the lists are restructured. Equities may be listed on the Official and Second lists; debt instruments – also on Official and Second lists, while a separate list is designated for investment funds. Based on the practices of some of the leading stock exchanges, two additional lists are introduced for equity issuers – Pre-list and Surveillance list. Both are a part of the Official and Second lists.
- Pursuant to the new structure based on the newly developed enforcement note, the issuers were reviewed pursuant to the new listing requirements.
- Implementing the Riga Stock Exchange and Latvian Central Depository strategy of closer co-operation and increasing of efficiency, and promote the integration of the two organisations, amendments to the law “On Securities” were attained, stipulating the cancellation of not-for-profit status to the stock exchange and depository, and lifting restrictions for shareholder structure. Both companies became for-profit businesses starting with January 1, 2002.
- In spring the Riga Stock Exchange offers its members a new service – I-broker, allowing their clients to trade directly via Internet connection.
- On June 8 the Riga Stock Exchange is admitted as a Corresponding Exchange to the Federation of European Stock Exchanges (FESE).
- On July 5 is the 1000th trading session. To mark it, the RSE jointly with its members runs A Week of Opportunities – cancelling any fees associated with securities transactions during this week.
- On October 26 Uldis Cērps, the RSE President, becomes Chairman of the newly founded Financial and Capital Market Commission. On December 21 the shareholders elect a new president – Guntars Kokorevičs, formerly Chief Financial Officer and Management Board member, and the RSE employee since inception.
- Two foreign debt instruments are listed – Svenska Exportkredit and Nordic Investment Bank bonds.
- One more annual prize – Stock Exchange Special Prize- joins the Broker of the Year and Issuer Contact Person of the Year. It is awarded to Ainārs Sedlenieks from Dienas bizness for his contribution to public education in the area of securities.
- On February 15 the first mortgage bonds, issued by Latvijas Hipotēku un zemes banka, are listed on the RSE Official list.
- A new facility ACCEPT complements the trading platform – mainly to be used for block trading of government debt paper, mortgage bonds, as well as shares.
- The Issuers’ Contact Person of the Year joins the annual prize Broker of the Year. The first winner is Ineta Limbēna from Balta.
- On February 2 the Riga Stock Exchange price index RICI is launched. It is calculated according to equal-lat weighted principle after each deal during continuous trading, thus representing the price changes at all times during trading. The index has been developed, introduced, maintained and reviewed by the RSE itself.
- On April 6 an agreement was signed about information exchange with the Tallinn Stock Exchange. This is the first step towards the co-operation between the stock exchanges of the Baltic countries.
- Starting with February, trading sessions on the RSE are run on each business day.
- Remote terminals are installed, allowing the RSE members to trade directly from their offices. The terminals may also be located outside Riga.
- In June Dow Jones Riga Stock Exchange Index, developed jointly by the Dow Jones Company and the Riga Stock Exchange, is launched. This is a capitalisation weighted index, calculated both in lats and in US dollars according to Dow Jones Global Index methodology. Latvia is the first economy in Eastern Europe where Dow Jones developed its index. The index is published by The Wall Street Journal on a daily basis.
- On November 3, a new trading segment – continuous trading at variable prices – is introduced. Very quickly it turns into the most popular segment for transacting. The Riga Stock Exchange was the first of Baltic stock exchanges to offer the continuous trading facility based on the public order book. This is a system allowing an automatic order matching from the public order book, and an execution at the best price for the moment.
- A tradition is started to give a prize to the best broker of the year. Uldis Bulavs from Trasta komercbanka becomes the first Broker of the Year.
- In September the Riga Stock Exchange is admitted as a Corresponding Emerging Market to the International Federation of Stock Exchanges.
- On January 16 the first company, JSC Latvijas Unibanka, is listed on the Official list.
- On February 29 Uldis Cērps, the former Director of International Relations Department, is elected the RSE President.
- Since May trading takes place twice a week – on Tuesdays and Thursdays; since October – three times a week – on Tuesdays, Wednesdays and Thursdays; since December four times a week – from Tuesday till Friday.
- On July 25 trading is launched at the RSE, and the official opening takes place. The securities traded at the first session were JSC “Kaija”, “Vitransauto”, “Rīgas alus” and “Saldus naftas bāze” shares and government bonds. Trading takes place once a week – on Tuesdays, as a single price auction. The brokers’ physical presence at the RSE is needed to submit the order.
- Conceptual framework for capital market is developed and presented to the Government and mass media.
- The most suitable trading model is selected, based on the platform offered by the Paris Stock Exchange and the Central Depository of France.
- December 7 is the Riga Stock Exchange incorporation day – and this is the foundation date. Mr. Kārlis Cerbulis, a graduate of the Harvard University (USA), is the first president of the RSE. Four Latvian commercial banks are the founding members of the Riga Stock Exchange.