Baltic, Financial Services, Investments

International Internet Magazine. Baltic States news & analytics Tuesday, 09.06.2026, 13:20

OMX changing its plans on the Baltic common market

Juhan Tere, BC, Tallinn, 27.08.2010.Print version
In 2009 Nasdaq OMX announced plans to create a common euro-based trading facility for shares on the three Baltic stock markets; however, the enterprise has corrected the intentions and will implement the plan in another form, writes Äripäev.ee/LETA. According to initial plans, the common market was to be launched this summer.

Henrik Elfving, the head of Nasdaq OMX’ Baltic markets, explained that the idea has not been abandoned, it has simply been changed.

 

"Nasdaq OMX prioritizes creating a common market using the same currency in the Baltic region," he explained.

 

Elfving stated that Estonia will adopt the euro on January 1, 2011, and there is wide-based support in Lithuania for using euro in trading and securities transactions since November 2010.

 

"The objective is to get Latvia to follow Lithuania’s example, hopefully from the beginning of next year," he added.

 

"We have opted for this other way that ought to be implemented via the Multilateral Trading Facility as the environment has changed significantly after launching the Baltic MTF project at the end of 2008," said Elfving.

 

He noted that the objective is to improve the liquidity on the Baltic markets and to attract more investors to the markets.





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