TALLINN STOCK EXCHANGE

ANNOUNCEMENT

 

NORDEA SECURITIES TO BECOME TSE REMOTE MEMBER

 

Nordea Securities, the leading Nordic investment bank, has applied 

for remote membership of Tallinn Stock Exchange (TSE). 

 

Nordea aims to start trading on February 25, 2002, when trading in 

the TSE listed securities will start in HEX's trading system. Its 

application needs to be approved by Financial Supervisory Authority 

of Estonia and the Management Board of TSE.

 

"Estonia is a part of Nordea's domestic market area. That is why it's 

natural to apply for a membership of TSE now when it has become possible.

By applying for membership we can fulfil our customers' transaction 

orders concerning TSE listed securities more effectively", says Ritva 

Örmälä-Haavisto, Managing Director of Nordea Securities.

 

Gert Tiivas, CEO of Tallinn Stock Exchange comments: "Nordea becoming 

one of the first remote members is a vote of confidence to the Estonian

securities market. Taking into account that Nordea makes the largest 

turnover on the HEX, the membership in TSE will make TSE listed 

securities easily available to a considerable number of investors."

 

Nordea Securities, the largest HEX's member at 12 per cent market share 

by turnover, was the second TSE remote membership applicant. 

 

HEX-TSE co-operation supports HEX's growth strategy while creating an 

effective and liquid securities market in Estonia. HEX is the strategic 

shareholder of TSE with 62 per cent ownership.

 

 

Additional information:

 

Ritva Örmälä-Haavisto, tel. +358 9 3694 9304

Gert Tiivas, tel. +372 51 77 579

 

 

Eva Palu

Head of Marketing and PR Department

Tallinn Stock Exchange 

Phone: +372 6 408 840

E-mail: eva.palu@tse.ee