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VLN: NASDAQ OMX Vilnius Will Use the Euro Currency for Trading and Clearing from November 22

Spekuliantai.lt | 2010-10-12 | NASDAQ OMX biržų naujienos | perskaitė: 1965
VLN: NASDAQ OMX Vilnius Will Use the Euro Currency for Trading and Clearing from November 22

NASDAQ OMX Vilnius Announcement from the exchange 12.10.2010

NASDAQ OMX Vilnius Will Use the Euro Currency for Trading and Clearing from
November 22

Vilnius, October 12 - NASDAQ OMX Vilnius, part of the NASDAQ OMX Group (NASDAQ:
NDAQ) today announced that it will change its trading and clearing currency for
shares on its regulated market from litas to euro as of November 22, 2010. This
follows customer feedback and evaluation of the market participant readiness.
Trading in shares listed on NASDAQ OMX Vilnius will only be conducted in euro.
The Central Securities Depository of Lithuania will provide settlement of
transactions in euro via the TARGET2 system.

“By changing the trading and clearing currency on NASDAQ OMX Vilnius to the euro
we aim to attract more foreign investors to the Lithuanian securities market.
Thanks to lower currency conversion costs the market will capture more interest
from foreign investors as well as a majority of the Lithuanian investors who are
trading on multiple markets. Thus, this change benefits the financial market as
a whole and all investor groups”, said Arminta Saladziene, Chairman of the
NASDAQ OMX Vilnius Management Board.

From 2011, the neighboring country Estonia will adopt the euro as its national
currency. This means that two Baltic exchanges will use the same trading and
clearing currency, resulting in 95% of all Baltic share market turnover traded
in euros. The third Baltic stock exchange, NASDAQ OMX Riga, will also move along
with its plan to introduce trading in the euro on its regulated equities market
as soon as agreement with market participants and authorities is in place. This
will further decrease currency conversion costs, which makes portfolio
diversification easier and simplifies portfolio value calculation.

In total, trading and clearing in euro is expected to lead to a more liquid
market and bigger market depth, which will benefit all current and potential
investors.

The major changes for investors after the implementation of trading and
settlement in euros on the regulated market of NASDAQ OMX Vilnius are:

- Euro will be the trading and settlement currency
- Due to currency conversion rates, NASDAQ OMX Vilnius together with its
customers have decided to reduce the tick size (the minimum step that a share
price could move) for NASDAQ OMX Vilnius equities market from 0.01 to 0.001.

Trading information on the NASDAQ OMX Baltic website is already shown in four
different currencies (EUR, EEK, LVL and LTL). Price history, graphs and
statistics previously shown in EEK, LVL, LTL, EUR will continuously be shown in
that respective currency. The default currency on the web will be euro. Baltic
indices are already calculated in euros, therefore the index graph will be
continued adding new trading information.

About NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers
trading, exchange technology and public company services across six continents,
with more than 3,600 listed companies. NASDAQ OMX offers multiple capital
raising solutions to companies around the globe, including its U.S. listings
market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the
U.S. 144A sector. The company offers trading across multiple asset classes
including equities, derivatives, debt, commodities, structured products and
exchange-traded funds. NASDAQ OMX technology supports the operations of over 70
exchanges, clearing organizations and central securities depositories in more
than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal
entities but describe the common offering from NASDAQ OMX exchanges in Helsinki,
Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information
about NASDAQ OMX, visit http://www.nasdaqomx.com.

Media contacts:
Gintare Blazyte, Communication Manager
NASDAQ OMX Vilnius +370 5 272 34 58
[email protected]



Additional information

Major changes to investors

--------------------------------------------------------------------------------
| | Now | After implementation of |
| | | trading and settlement |
| | | in euros |
--------------------------------------------------------------------------------
| When inserting orders | Litas | Euro |
| into NASDAQ OMX Vilnius | | |
| Equities market Shares | | |
| segment orderbooks the | | |
| price should be | | |
| specified in | | |
--------------------------------------------------------------------------------
| When placing buy/sell | Litas | Euro |
| orders for shares of | | |
| the Lithuanian | | |
| companies, cash should | | |
| be | | |
| accumulated/transferred | | |
| in | | |
--------------------------------------------------------------------------------
| Official tender offers | Litas only | Litas or Euro, depending |
| and other special | | on submitted circular or |
| procedures will be | | application |
| placed in | | |
--------------------------------------------------------------------------------
| The currency of the | Litas | Litas |
| Lithuanian listed | | |
| companies stock capital | | |
--------------------------------------------------------------------------------
| The currency of | Litas | Litas |
| dividends, paid by the | | |
| Lithuanian listed | | |
| companies | | |
--------------------------------------------------------------------------------
| Listed debt instruments | Litas | Litas |
| with nominal value in | | |
| Litas are traded in | | |
| yield and settled in | | |
--------------------------------------------------------------------------------
| Listed debt instruments | Euro | Euro |
| with nominal value in | | |
| Euro are traded in | | |
| yield and settled in | | |
--------------------------------------------------------------------------------
| Listed debt instruments | Litas | Litas |
| with nominal value in | | |
| other currencies than | | |
| Litas or Euro are | | |
| traded in yield and | | |
| settled in | | |
--------------------------------------------------------------------------------
| Trading data, | Litas, Euro, Latvian | Litas, Euro, Latvian |
| statistics and history | lats and Estonian | lats and Estonian kronas |
| on NASDAQ OMX Vilnius | kronas | |
| website is displayed in | | |
--------------------------------------------------------------------------------
| Tick size | 0.01 Lt, i.e. one | 0.001 euro, i.e. 0.1 |
| | Lithuanian cent | eurocent |
--------------------------------------------------------------------------------
| NASDAQ OMX Vilnius | 0.045%, minimum LTL 1 | 0.045%, minimum LTL 1 |
| commission fee for | | |
| automatch trades in | | |
| shares | | |
--------------------------------------------------------------------------------
| Central Securities | LTL 1 | LTL 1 |
| Depository of Lithuania | | |
| transaction fee for | | |
| settlement of automatch | | |
| trade transactions | | |
--------------------------------------------------------------------------------

Taip pat skaitykite

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