Clearing and Settlement
Member is responsible at all times for delivery, clearing and settlements of instruments in accordance with the conditions governing the trade.
Trades concluded on Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius are cleared and settled by the Nasdaq CSD in one of the three securities settlement systems it operates (the Estonian SSS, the Latvian SSS and the Lithuanian SSS). Security’s SSS is determined by the depository’s settlement system it was initially recorded in.
Correspondingly members need to ensure that its settlement agents have the necessary information and means for having settlement instructions delivered to Nasdaq CSD, either its settlement agent uses the Nasdaq CSD offered Trade capture service and/or the member ensures needed information to its settlement agent.
The settlement of trades is conducted in accordance with the rules of the Nasdaq CSD.
Automatically matched trades are always settled on the second settlement day after the trade (T+2), where T is the day of conclusion of the transaction. The ownership right to securities is transferred on the settlement day.
The default settlement day for negotiated deals is also T+2. Negotiated deals may also have a settlement day between T+0 and T+6 if agreed so separately.
More information can be found here: