The official trading, clearing and settlement currency of NASDAQ OMX Tallinn is the Euro (EUR).
The official trading currency, clearing and settlement currency of NASDAQ OMX Riga is the Lat (LVL). For the securities traded in euro or dollar on NASDAQ OMX Riga markets the payment will be in respective currency.
The official trading currency, clearing and settlement currency of NASDAQ OMX Vilnius is the Euro (EUR). Where bonds are issued in Litas (LTL), trading in bonds shall be executed in Litas, and where bonds are issued in Euros, trading in bonds shall be executed in Euros.
All trading in securities listed on the exchanges is conducted via member firms of Tallinn, Riga and Vilnius exchanges. The list of member firms includes local as well as international banks and brokerage firms.
To be eligible for membership on the Baltic exchanges, a company must be authorized to carry out securities operations and be under adequate supervision by a competent authority in the company's home country. Apart from that, the members need an approval by the exchanges’ management boards.
A prospective member must have fixed capital not less than 50, 000 EUR or its equivalent in local currency of the respective Exchange, a suitable business organization, requisite risk management routines, secure technical systems, and must otherwise be deemed suitable to participate in trading.
In addition, at least two employees in the company must be authorized as exchange traders in order to trade via electronic securities trading systems INET (trading system for equities) and Genium INET (trading system for fixed – income securities). To be authorized as an exchange trader, the employee must have at least six months’ professional experience in the financial instruments market, as well as documented knowledge of market legislation, economics, financial markets and financial analysis. He or she must also have passed exam.
