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Last year in Estonian securities market


Infrastructure of Estonian securities market will be renewed at the turn of the year
Changes in the price list of the Estonian Central Depository for Securities
Estonian securities market in the third quarter of 2010

Infrastructure of Estonian securities market will be renewed at the turn of the year

21.12.10 NASDAQ OMX Tallinn

In addition to the exchange of banknotes and coins, the changeover to the euro will bring about changes in several information systems. The NASDAQ OMX Tallinn , the Estonian Central Securities Depository (CSD), and market participants have made thorough preparations in the last half-year to ensure the functioning of all systems following the euro changeover at the turn of the year.

In addition to the changes arising from the euro changeover, the entire infrastructure on which the Estonian securities market is based – the register and settlement system of securities – will be renewed at the turn of the year. From next year, the CSD will adopt a completely new information system, the preparations for which began back in 2007. The new and flexible platform of the CSD primarily relates to account operators, stock exchange members, issuers, and the Bank of Estonia, and it follows the best pan-European technical and business standards. The CSD will be the first depository in Europe to adopt the international standard for settlement messages (ISO20022) in its system. As a significant part of the transactions of the Baltic securities market are cross-border, the Latvian Depository has initiated the process of implementing MessageHub, the actions to be continued in 2011. In the future this should result in easier and more cost efficient transactions for market participants with pan-Baltic trading, clearing and settlement.

The Estonian Central Securities Depository

will begin the system changes on the afternoon of 31st December 2010. The replacement and configuration of the information system will take place in the time period from 14:00 on 31st December 2010 to 08:00 on 3rd January 2011. During this time period, the work of the CSD’s information systems and electronic channels may be disrupted, and access to the data of the E-register system and Pensionikeskus may not be available.

This year’s last trading day on the NASDAQ OMX Tallinn stock exchange will be 30th December. Clearing and settlement is carried out until 14:00 on 31st December 2010. DVP transactions not executed in Estonian kroons will be cancelled on 1st January 2011. Ordinary trading on the Baltic stock exchanges will resume on 3rd January 2011.

The NASDAQ OMX Tallinn and the Estonian Central Securities Depository wish to thank their partners and customers for their patience and co-operation, and apologise for any possible inconveniences from the system changes.

Further information:
Market services of NASDAQ OMX Tallinn: 640 8800
Euro helpline of the Estonian Central Securities Depository: 640 8888