Two New Members Join Baltic Market Making Program

01.10.2013 RIG

Tallinn/Riga/Vilnius, Baltic Market, October 1, 2013 – The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) announces that as of October 1, Orion Securities and SEB Pank join the Baltic Market Making Program (MMP) designed to increase market liquidity.

Orion Securities will act as a market maker for 3 shares and SEB Pank will provide market in 8 shares of the Baltic Main List. AB bank Finasta already participating in the MMP will be a liquidity provider for one more share.

NASDAQ OMX Baltic MMP was launched on July 1, 2013.  In order to encourage members to join this voluntary program and contribute to higher liquidity, NASDAQ OMX has offered a 40% discount on the standard trading fees. A member providing liquidity for at least 3 shares is entitled to a trading fee discount on all shares traded in a given market.

“We welcome Orion Securities and SEB Pank joining our Market Making Program and are happy to have already 4 members providing liquidity for 14 Baltic shares in total,” says Daiga Auziņa-Melalksne, Head of Exchange Services at NASDAQ OMX Baltic Market. “Increasing liquidity is key to the future of the Baltic Market, and it is a shared responsibility of us as a market operator and all market participants. We regard the Baltic Market Making Program as a joint commitment and are pleased to see it is gaining momentum.“

The Baltic MMP foresees that a NASDAQ OMX Baltic Market member as a market marker has to ensure that the bid and offer orders of no less than EUR 3000 of value of selected shares have to be available in the opening and closing auctions, as well as during 85 per cent of the trading time. The MMP also foresees that the price spread of bid and offer orders cannot be higher than 2.5 per cent.

„Most important functions of the capital markets are market activity-liquidity and listed companies in the stock exchange. We are glad that business leaders understand that it is important to take care of minority shareholders and to give them opportunity to trade shares actively,” says Alius Jakubelis, Head of Orion Securities. „Institutional investors also feel more comfortable when liquidity is supported by professional financial brokers. Orion Securities were first provider of market making services in Lithuanian stocks, so we have a lot of experience in this area. We believe that a new Market Making Program will support market liquidity.”

As of October 1, Orion Securities joins the MMP for City Service, Vilkyškių Pieninė and TEO LT shares.
SEB Pank, on behalf of SEB Banka, SEB bankas and Skandinaviska Enskilda Banken, becomes the market marker for Olympic Entertainment Group, Tallink Grupp, Tallinna Kaubamaja, Tallinna Vesi, TEO LT, Apranga, Šiaulių Bankas and Linas Agro Group shares.
Finasta will provide liquidity for Tallink Grupp, Ekspress Grupp, Olainfarm, Rokiškio Sūris, Linas Agro Group and Grigiškės shares.
LHV Pank already participates in the MMP and provides liquidity for Tallinna Kaubamaja, Olympic Entertainment Group and Tallinna Vesi shares.

To learn more, visit http://www.nasdaqbaltic.com/en/exchange-information/trading/market-makers/market-makers-3/



About NASDAQ OMX Group

The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade – from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 26 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-55 microsecond speeds with 99.99% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world’s securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,300 listed companies worth more than $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily.  Welcome to the NASDAQ OMX Century.  To learn more, visit www.nasdaqomx.com . Follow us on Facebook (www.facebook.com/NASDAQ) and Twitter (www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)

Cautionary Note Regarding Forward-Looking Statements


Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties.  NASDAQ OMX cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information.  Such forward-looking statements include, but are not limited to, statements about our capital return initiatives.  Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX’s control.  These factors include, but are not limited to, NASDAQ OMX’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, and other factors detailed in NASDAQ OMX’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on NASDAQ OMX’s website at http://www.nasdaqomx.com and the SEC’s website at www.sec.gov.  NASDAQ OMX undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Media Relations Contact:
Audrone Ranonyte
370 5 272 34 58
Audrone.ranonyte@nasdaqomx.com


 

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