Nasdaq Vilnius Stock Exchange celebrates its 30th anniversary

14.09.2023 RIG, TLN, VLN

Vilnius/Riga/Tallinn, Nasdaq Baltic Market, 14 September 2023. Nasdaq (Nasdaq: NDAQ) announces that today Nasdaq Vilnius Stock Exchange turns 30. On 14 September 1993, the symbolic bell of the then National Stock Exchange rang for the first time in Vilnius, marking the first securities trading session in Lithuania. To mark the symbolic anniversary, capital market participants, the founders of the Lithuanian securities market, and executives of the listed companies opened the anniversary trading session at Nasdaq Vilnius with a symbolic ring of the bell, and in a celebratory panel discussion shared their insights about the creation and development of the securities market in Lithuania.

To mark the historic date, the Lithuanian capital market community was greeted by Darius Sadeckas, Vice-Minister of Finance of Lithuania, and Jurgita Šaučiūnienė, Member of the Board of the Bank of Lithuania.

In the anniversary panel discussion “30 years of Nasdaq Vilnius: from Youth to Maturity“, CEOs and senior executives of the listed companies, Lithuanian and international financial institutions and Nasdaq shared insights about the creation and development of the securities market. After the discussion, the participants opened the 30th-anniversary trading session of Nasdaq Vilnius with a symbolic bell ringing.

“Thank you for being a part of the three-decade journey to create and develop the securities market in Lithuania. Together with you, we are growing, maturing, and developing the securities market in Lithuania and the entire Baltic region”, Saulius Malinauskas, President of Nasdaq Vilnius, told the capital market community on the anniversary morning. “We are pleased and proud to be part of the global Nasdaq group and be able to provide the Lithuanian capital market with the most advanced securities trading infrastructure and services. We expect that the role of the stock exchange will continue to evolve and make a significant impact on the future development of the securities market, contributing to the successful implementation of the Lithuanian Capital Market Development Plan and the overall economic progress of the country.”

During the first trading session held on 14 September 1993, investors were able to transact in the shares of 22 public companies; 368 shares were traded during the session and the turnover reached 1,630.5 litas. Currently, investors can trade shares of 74 Baltic companies and 70 bonds. The average daily turnover for the year 2022 was EUR 2.44 million, and the average daily number of transactions in shares was 4,980.

Milestones of the Stock Exchange:

• The first trading session of the National Stock Exchange of Lithuania (NSEL) took place on 14 September 1993.
• The NSEL was launched with the support of the French Government, which provided financial assistance to the NSEL for the purchase of software and expert assistance from the Paris Stock Exchange.
• In 1993, the Securities Depository was launched as an integral part of the NSEL, and in early 1994 it was transformed into a separate institution, the Central Securities Depository of Lithuania (CSDL, now – Nasdaq CSD Lithuania branch).
• The Lithuanian Government provided premises for the NSEL and the CSDL and helped both institutions obtain funding from international donor organizations such as PHARE and USAID.
• The Ministry of Finance of Lithuania was the main shareholder in the NSEL while around 200 companies and individuals held more than 50% of the NSEL shares.
• In mid-2004, the Lithuanian Government sold its holdings in the NSEL and CSDL to OMHEX (later renamed OMX), the largest Nordic securities market operator. Soon afterward, the NSEL was renamed the Vilnius Stock Exchange (VSE) and successfully implemented the Nordic trading platform SAXESS.
• Integration of the Baltic stock markets has begun, with harmonized rules for the Baltic exchanges, the adaptation of the methodology of the Nordic stock indices, the development of best practices in corporate governance and investor relations, efficient trading and settlement, and the creation of a common website.
• Following the example of the OMX group exchanges in Copenhagen, Stockholm, Helsinki, and Iceland, the First North alternative market for fast-growing and developing SME companies was established in 2007.
• In 2008, OMX and NASDAQ formed NASDAQ OMX Group, Inc., the world’s largest stock exchange and technology company; the VSE became an integral part of the group and changed its name to NASDAQ OMX Vilnius.
• In the beginning of 2009, the first primary auction of the Lithuanian Government securities on Vilnius Stock Exchange was held.
• In 2010, the Vilnius Stock Exchange implemented the Nasdaq INET trading system, which is used by other Nasdaq group stock exchanges.
• In 2010, trading and settlement in euro was launched on the Nasdaq OMX Vilnius regulated market. Lithuania officially adopted the euro on 1 January 2015, replacing the litas.
• In 2015, the Nasdaq Global Technology and Business Services Centre was opened in Vilnius to develop state-of-the-art technologies and solutions for the global financial markets, manage securities markets, financial accounting, IT systems administration and other operations. Nasdaq office in Vilnius currently employs over 450 employees.
• In 2020, the largest initial public offering in the Baltic states was completed with the listing of the shares of Ignitis Group, a state-owned energy company, on the Nasdaq Vilnius stock exchange.
• In August 2023, the international index compiler MSCI decided to merge the Baltic public capital markets into a single index (MSCI Baltic Index).
  
  

About Nasdaq Vilnius

Nasdaq Vilnius is the only regulated secondary securities market in Lithuania. It maintains a regulated, open and efficient market infrastructure.

The exchange provides companies with an efficient channel to raise capital and facilitate the participation of institutional and private investors in primary offerings and secondary trading.

The exchange brings together investors, listed companies seeking access to capital resources, and exchange members who mediate securities transactions for investors through a common electronic trading system.

Nasdaq Vilnius uses the INET trading system for trading in equities, Nasdaq’s core technology used on all Nasdaq equity markets across the world. For trading and primary auctions in fixed-income securities, Nasdaq Vilnius uses the Genium INET trading system, also used on the Baltic and Nordic exchanges.

Nasdaq Vilnius is licensed and supervised by the Bank of Lithuania.

Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn,Twitter @Nasdaq, or at Nasdaq.com. 

Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more: nasdaqbaltic.com