The Nasdaq Baltic market is a joint offering of Nasdaq’s Tallinn, Riga and Vilnius exchanges and includes common Baltic securities lists, common and harmonized indexes and easy access for investors to all Baltic listed financial instruments through any of the pan-Baltic members.
The market structure of Nasdaq Baltic exchanges is as follows:
Baltic Regulated market
- Baltic Equity List
– Baltic Main List
– Baltic Secondary List
- Baltic Bond List
- Baltic Funds List
First North (Baltic MTF)
Baltic Regulated Market
The Baltic Regulated Market is the primary market of the Nasdaq Baltic exchanges. It is regulated under EU directives and supervised in each country by the national FSA. The listing requirements are based on European standards and EU directives, and intended for companies that are well established. The regulatory demands on the regulated market are higher than on First North.
Baltic Main List
The Baltic Main List is a line-up of all the blue-chip companies listed on the Tallinn, Riga and Vilnius stock exchanges. To be eligible for inclusion, a company must have 3 years of operating history, an established financial position, and market cap of not less than EUR 4 million, with reporting according to International Financial Reporting Standards and a free float of 25% or worth at least EUR 10 million.
Baltic Secondary List
The Baltic Secondary List comprises companies that do not meet quantitative admission requirements (free float, capitalization) for the Main List. Admission requirements are less strict than on the Main List.
Baltic Bond List
Baltic fixed-income instruments are presented in a joint Baltic Bond List. They include Latvian and Lithuanian government bonds as well as corporate and mortgage bonds of different maturities. Listing of and trading in fixed-income instruments is possible in EUR and international currencies.
Baltic Fund List
The Baltic Fund List contains the investment fund units that are listed and traded on the Baltic exchanges in a similar manner as equities.
First North (Baltic MTF)
Nasdaq First North is a multilateral trading facility (MTF), also known as an Alternative Market, operated by the different exchanges within Nasdaq. It does not have the legal status of an EU-regulated market. Companies on First North are subject to the rules of First North and not the legal requirements for admission to trading on a regulated market. To read more about First North, click here. To read about the differences between the regulated market and First North, please click here.