The Vilnius Stock Exchange – one of the six exchanges owned by OMX Exchanges – is now using the SAXESS trading platform OMX is installing as a common cash trading system in the Nordic and Baltic markets.
SAXESS is already in use at the stock exchanges owned by OMX (Copenhagen, Stockholm, Helsinki, Riga and Tallinn) as well as the stock exchanges in Oslo and Iceland (which are not owned by OMX).
OMX says the universal use of SAXESS, which was developed and operated by OMX Technology, throughout the region is essential to realise its vision of integrated Nordic and Baltic securities markets. The single trading platform is accompanied by harmonized Nordic and Baltic trading rules as well as one access point to eight different markets. The trading platform SAXESS and the common NOREX Member Rules are now in use in all the Nordic and Baltic marketplaces: Copenhagen, Oslo, Iceland, Stockholm, Helsinki, Tallinn, Riga and Vilnius.
“The implementation of SAXESS in Vilnius supports our strategy and vision,” says Magnus Bcker, President and CEO of OMX. “Thanks to our extensive experience in both the technology and exchange business, we have taken an important step in this successful harmonization of cash markets in the Nordic and Baltic region in a short period of time.”
Through the single access point to the common trading platform, OMX Exchanges now offers access to approximately 80 per cent of the Nordic and Baltic equity markets. OMX Exchanges offers services to 677 listed companies and 144 trading members. The total market value of all listed companies amounts to Euros 601 billion.
The Tallinn, Riga and Vilnius stock exchanges form a joint Baltic market to simplify access and minimize investment barriers. The joint Baltic market has a common list of Baltic securities, a common index and harmonized listing, trading and disclosure rules. The joint Baltic market also comprises common market statistics on the Internet as well as a cross-border Delivery versus Payment, DVP, link that connects the Baltic central securities depositories.
OMX Exchanges owns and operates the stock exchanges in Copenhagen, Stockholm, Helsinki, Tallinn, Riga and Vilnius as well as the central securities depositories in Estonia and Latvia.