NASDAQ OMX Implements T+2 Standard Settlement on its Nordic and Baltic Markets

30.09.2014 TLN

Tallinn/Riga/Vilnius, Baltic Market – September 30th, 2014

NASDAQ OMX is going to implement two-day standard settlement (T+2) to securities admitted to trading on the NASDAQ OMX Copenhagen, Helsinki, Iceland, Stockholm, Tallinn, Riga and Vilnius exchanges and the respective First North markets. The T+2 settlement cycle will take effect as of October 6, 2014. Currently, the settlement for trades in securities occurs on the third day after a trade is executed, and is referred to as T+3.

“The T+2 standard settlement period is harmonized across the EU and is aimed to make the markets more efficient. Shortening the time period between trade executions and settling payments by one day will allow investors to manage their capital with greater flexibility and efficiency,” said Daiga Auziņa-Melalksne, the head of NASDAQ OMX Baltic exchange services. 

The introduction of a shortened settlement cycle is in line with the new settlement requirements in Central Securities Depository Regulation (CSDR), which aims to harmonize securities settlement cycles within EU. The CSDR settlement requirements determine that trades executed on regulated markets or MTFs in transferable securities shall be settled no later than on the second business day after the trade takes place.

The transition to a T+2 settlement period in NASDAQ OMX’s Nordic and Baltics markets has been prepared in each respective country in close cooperation with different market participants, Central Counterparty Clearinghouses (CCPs), Central Securities Depositories (CSDs), and relevant exchanges.

About NASDAQ OMX Group 
NASDAQ OMX (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, NASDAQ OMX enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. NASDAQ OMX is home to more than 3,400 listed companies with a market value of over $8.5 trillion and more than 10,000 corporate clients. NASDAQ OMX Nordic is not a legal entity but describes the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm and Iceland. To learn more, visit www.nasdaqomx.com.