Nasdaq merges its Baltic CSDs to create Nasdaq CSD
First Published 18th September 2017
Central securities depositories in Estonia, Latvia and Lithuania become a single entity which has joined the pan-European securities settlement platform T2S
Nasdaq has announced the cross-border merger of
the central securities depositories (CSDs) of Estonia, Latvia and
Lithuania into a single licensed legal entity - Nasdaq CSD
Societas Europaea. Nasdaq CSD is the first CSD in the EU to be
reauthorized under the European CSD Regulation (CSDR). This is
the first time a common authorization, supervision and regulatory
framework for CSDs has been instituted at a pan-European level.
Following the cross-border merger Nasdaq CSD has joined the
pan-European securities settlement platform TARGET2-Securities
(T2S), a financial infrastructure project initiated by the
European Central Bank. T2S is intended to improve the European
post-trade industry and make cross-border settlements easier and
more efficient.
The merger of Nasdaq's Baltic CSDs aims to increase the
competitiveness of the post-trade ecosystem in the Baltic region
and ensure more integrated securities trading and post-trade
services for companies and investors in the Baltics and abroad.
The legal entity of Nasdaq CSD will be based in Latvia, with
local branches in Estonia and Lithuania. Client servicing and
local business will continue in all three countries as
before.