Riga Stock Exchange                                                              13.06.2005



Primary placement auctions of Government debt securities to be run by the RSE



Riga Stock Exchange has been selected by Minister of Finance as the financial agent for primary 

placement of Government debt securities. 



The RSE will run on the SAXESS trading platform the primary placement auctions of Government 

debt securities according to three models – competitive multiprice auction, fixed rate auction 

and taps. 



“We are glad for the Minister’s choice, which is well-considered: the RSE is capable of providing 

a modern infrastructure for the auctions. Since we are an international group company, it is 

expected that the investor base for Latvian Government debt papers will expand: SAXESS platform 

is used by eight Nordic and Baltic markets”, said Daiga Auziņa-Melalksne, Chairman of Management 

Board, Riga Stock Exchange.



The RSE and its members have already built experience in primary placement auctions: since the 

launch of the new trading system in September last year, several primary placement auctions of 

corporate debt securities have been run seamlessly. The RSE group has good co-operation with 

State Treasury – up to now fixed rate auctions were conducted on the Latvian Central Depository 

(a RSE group company) system. Also, the RSE has the advantage of not being a participant in 

auctions – this fact allows eliminating the conflict of interest.   



In the nearest future the agreement with State Treasury will come into effect. The approval of 

the auction-related rules for the RSE members and LCD settlement rules for the participants will 

be finalized. The first primary placement auction via the RSE is expected to take place on July 

6, 2005.



For more information, please contact:

Inese Purgaile, Corporate Communications Specialist

Riga Stock Exchange

Phone: +371 7212431