SAXESS trading platform successfully launched at Vilnius Stock Exchange

30.05.2005 VLN

Press Release, May 30, 2005

Vilnius Stock Exchange (VSE), one of six exchanges within OMX Exchanges, today successfully launched the common Nordic trading platform SAXESS™ for trading on the cash markets. SAXESS is already in use at the stock exchanges in Copenhagen, Stockholm, Helsinki, Riga and Tallinn (all exchanges owned by OMX) as well as the stock exchanges in Oslo and Iceland. The launch of SAXESS in Vilnius is another milestone in creation of a truly integrated Nordic and Baltic securities market.

The final step of implementing Vilnius to the SAXESS platform is an important part of the harmonization of all the cash markets in the region. It provides customer benefits, such as harmonized Nordic and Baltic trading rules as well as one access point to eight different markets. The trading platform SAXESS and the common NOREX Member Rules are now in use in all the Nordic and Baltic marketplaces: Copenhagen, Oslo, Iceland, Stockholm, Helsinki, Tallinn, Riga and Vilnius.

“The implementation of SAXESS in Vilnius supports our strategy and vision. Thanks to our extensive experience in both the technology and exchange business, we have taken an important step in this successful harmonization of cash markets in the Nordic and Baltic region in a short period of time,” said Magnus Böcker, President and CEO of OMX, expressing appreciation for the efforts of all market participants.

OMX’s creation of a Nordic and Baltic marketplace is done in parallel Baltic and Nordic steps. With VSE joining the same trading platform, a concept of a joint Baltic market has been realized to its full potential. The Tallinn, Riga and Vilnius stock exchanges form a joint Baltic market to simplify access and minimize investment barriers. The joint Baltic market has a common list of Baltic securities, a common index BALTIX and harmonized listing, trading and disclosure rules. The joint Baltic market also offers easier access to statistical information through a single source on the joint market data-web. Cross-border Delivery versus Payment, DVP, link now connects the Baltic central securities depositories. All these improvements broaden opportunities for investors and raise visibility of the Baltic markets among foreign investors.

“Now the Baltic markets can be viewed as a single investment area – the differences between Estonian, Latvian and Lithuanian markets have been minimized and a number of barriers lifted for the benefit of investors, stock exchange members, listed companies and market data vendors,” said the President of OMX Exchanges’ Baltic Markets, Johan Rudén.

„A shared trading platform and infrastructure open new markets for Lithuanian market participants,“ said Chairman of the Board of the Vilnius Stock Exchange Dalia Jasulaityte. „The integrated Lithuanian securities market will be more visible and attractive to foreign investors,“ – added D. Jasulaityte.
As of launch day, 5 cross members join the VSE. The VSE Board’s decision enters into force today, giving SEB Latvijas Unibanka (Latvia), SEB Eesti Uhispank (Estonia), Lohmus, Haavel & Viisemann (Estonia), Suprema Securities (Estonia), and Fischer Partners Fondkommission AB (Sweden) membership of the VSE, whereas Finasta has been approved and SEB Vilniaus Bankas has filed the application for membership in Tallinn and Riga stock exchanges.

Through the single access point to the common trading platform, OMX Exchanges now offers access to approximately 80 percent of the Nordic and Baltic equity market. OMX Exchanges offers services to 677 listed companies and 144 trading members. The total market value of all listed companies amounts to EUR 601 billion.


About OMX Exchanges | OMX is a leading partner for more efficient securities transactions. OMX consists of two divisions: OMX Technology and OMX Exchanges. Through the OMX Exchanges division, OMX owns and operates the equity and derivatives exchanges in Copenhagen, Stockholm, Helsinki, Tallinn, Riga and Vilnius as well as the central securities depositories in Estonia and Latvia. Through OMX Exchanges, OMX offers access to approximately 80 percent of the Nordic and Baltic Securities market. For more information, please visit www.omxgroup.com.


SAXESS™ trading platform
SAXESS is a common electronic trading system, which was developed by OMX Technology, used by exchanges of OMX Exchanges group and other exchanges of NOREX alliance. SAXESS is a modern high-performance trading system that supports multiple exchanges running concurrently in multiple currencies. The system supports all common trading models, order types and instrument types.

NOREX
NOREX is an alliance of the eight stock exchanges of the Nordic countries. The securities are traded on the same platform under harmonized rules. The NOREX alliance is made up of the exchanges in Copenhagen, Stockholm, Helsinki, Tallinn, Riga, Vilnius, Oslo and Iceland.

The NOREX Member Rules
The NOREX Member Rules are a result of the harmonization of the rules in force on the NOREX exchanges and they contain member terms and rules for trading in equities and bonds. The NOREX Member Rules are available at www.norex.com.

BALTIX
The BALTIX Index is a capitalization-weighted chain-linked total return index. The index is calculated daily using the most recent official closing prices of all shares listed on the Main Lists of the Riga, Tallinn and Vilnius stock exchanges and comparing the compound market capitalization plus dividends paid to the corresponding data of the previous trading day. The index constituents are subject to quarterly weight limits of 10 percent of the compound market capitalization. The index base value was set at 100.00 points on January 1, 2000. The index is calculated using prices in Euro.

VILSE index
The VILSE Stock Index is capitalization-weighted chain-linked total return indexes. VILSE is calculated on a daily basis using the most recent closing prices of all shares listed on the Vilnius Stock Exchange’s Official and Current Lists. No weight limits are applied to the index constituents. The index calculation methodology of the VILSE index is harmonized with Estonian (TALSE) and Latvian (RIGSE) total return index methodology. The index base values were set at 100.00 points on January 1, 2000.