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Finasta joins Baltic market making program Talli

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Post# of 301275
Posted On: 07/30/2013 4:15:28 AM
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Posted By: News Desk 2018
Finasta joins Baltic market making program

Tallinn/Riga/Vilnius, Baltic Market, July 30, 2013 – The NASDAQ OMX Group, Inc. (NASDAQ: NDAQ ) announces that from August 1, 2013 AB bank Finasta will join NASDAQ OMX Baltic Market Making Program becoming a liquidity provider for six shares traded on the Baltic Market.

Finasta will become a market maker for Rokiškio S?ris, Linas Agro Group and Grigišk?s shares in addition to the already covered Pro Kapital, Ekspress Grupp and Olainfarm shares.

Currently, LHV Pank participates in the Baltic Market Making Program and provides liquidity for Tallinna Kaubamaja, Olympic Entertainment Group and Tallinna Vesi shares.

“We welcome Finasta as a participant of the newly launched Baltic Market Making Program. We are happy that Finasta will provide liquidity for six shares from all three Baltic countries making the Baltic Market more attractive for investing”, says Daiga Auzi?a-Melalksne, Head of Exchange Services, NASDAQ OMX Baltic Market.

„We are joining the Baltic Market Making Program because we see the value in this. Increased market liquidity is beneficial for both, investors as well as companies listed on the Exchange. We, in our turn, provide the most effective financial solutions for clients and emphasize the attractiveness of the market making service. Without any hesitations we support initiatives that encourage the development of Baltic markets”, says Andrej Cyba, Member of the Board of Finasta, Director of Finance Markets division.

The Baltic Market Making Program forsees that a participant of the Program has to ensure that the bid and offer orders of no less than EUR 3000 of the value of selected shares have to be available in opening and closing auctions, as well as during 85 percent of trading time. The price spread of bid and offer orders cannot be higher than 2.5 % .

The Baltic Market Making Program was launched on July 1, 2013. I n order to encourage members to join this voluntary program, NASDAQ OMX Tallinn, NASDAQ OMX Riga and NASDAQ OMX Vilnius have offered a 40% discount on the standard trading fees. By committing to market making activities for at least 3 shares, a member is entitled to a trading fee discount on all shares traded in a given market.  

About AB bank Finasta

Established in 2008 AB bank Finasta specialises in investment and private banking services. The bank provides a package of investment, financial management and corporate finance services to private and corporate clients and offers tailor-made corporate lending solutions. International finance market magazine Euromoney in its annual Private Banking and Wealth Management Survey 2013 rated Finasta as the best provider of private banking services in Lithuania. Finasta also scored number one for equity and fixed income portfolio management.

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-40 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: Audron? Ranonyt? +370 (5) 272 34 58 Audrone.ranonyte@nasdaqomx.com



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