NASDAQ OMX Baltic welcomes investors with improved offering

04.01.2011 RIG

Riga, January 4, 2011 – The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announces that as of today trading and settlement on Tallinn and Vilnius stock markets is available in euro. This move will greatly improve the efficiency of the Baltic market and is intended to capture larger flows of portfolio investments to the region. 

For foreign investors the common currency will reduce transaction costs through savings in conversion costs, allow for smoother management of cross-border portfolios, as well as diminish trading-related risk. Furthermore, already today every third stock exchange transaction on the Baltic market is executed between Lithuania and Estonia and thus, also local retail investors will save on conversion costs. NASDAQ OMX Riga will continue operating the market in local currency but is looking for possibilities to move over to euro trading as well.

“The core idea behind NASDAQ OMX Baltic is to provide a one-stop-solution for trading, clearing and settlement in the Baltics and thereby making the region more accessible and attractive to local and international investors, as well as listed companies,” Hans-Ole Jochumsen, Executive Vice President of NASDAQ OMX Group, added.

In addition to the changes arising from the euro changeover, the entire infrastructure on which the Estonian securities market is based – the register and settlement system of securities – was renewed at the turn of the year. The new and more flexible platform of the CSD follows the best pan-European technical and business standards. The Estonian CSD will be the first depository in Europe to adopt the international standard for settlement messages (ISO20022) in its system. The other fully NASDAQ OMX owned depository, the Latvian Depository, has started to adopt the international standard for settlement messages and will make other improvements in its system during 2011. This will reduce the risks and expenses of banks and account operators who are operating across the Baltic States in the settlement of securities. It also creates a favorable basis for the further development and integration of the Baltic securities market.

In order to spread the information about NASDAQ OMX Baltic Market offering more widely, NASDAQ OMX is launching today a new web page www.investinbaltics.com where investors and potential exchange members can find information about the Baltic economies, securities markets, taxation and other vital aspects of our region.

About NASDAQ OMX

The NASDAQ OMX Group, Inc. is the world’s largest exchange company. It delivers trading, exchange technology and public company services across six continents, with more than 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com. *Please follow NASDAQ OMX on Facebook (http://www.facebook.com/pages/NASDAQ-OMX/108167527653) and Twitter (http://www.twitter.com/nasdaqomx).

CONTACTS:  

The NASDAQ OMX Group, Inc.

Media Contacts:

Tex Vertmann, Communications Manager
NASDAQ OMX Tallinn +372 640 8862

Āris Dreimanis, Head of Corporate Communications
NASDAQ OMX Riga +371 67 212431

Gintare Blazyte, Communication Manager
NASDAQ OMX Vilnius +370 5 272 3458