Baltic Market, 2012-10-30 09:15 CET (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. announces that as of October 30, 2012 Finasta bank will become a liquidity provider for the shares of Ekspress Grupp listed on NASDAQ OMX Baltic Main List. Ekspress Grupp is the second issuer whose shares are covered by Finasta.
Finasta, in the capacity of the liquidity provider for Ekspress Grupp, will maintain demand and supply for the company’s shares at the total value of EUR 3000, thus allowing investors to sell or buy the shares at a price that will differ from the last price in the market by no more than 2%.
„NASDAQ OMX Baltic is glad to witness that Finasta becomes a liquidity provider for another listed company on NASDAQ OMX Baltic Market. As liquidity is crucial for the financial markets to function properly, there is no doubt that having a market maker will benefit trading in Ekspress Grupp shares and will add liquidity to the market as a whole“, says Daiga Auzina-Melalksne, Head of Exchange Services, NASDAQ OMX Baltic Market.
"In April we successfully started co-operation on liquidity providing with Olainfarm. Based on this positive experience, we have approached other Baltic listed companies, offering them to use market making service. Now we are pleased to have established co-operation with Ekspress Grupp, and we are confident that the company's shareholders and potential investors in the near future will evaluate the benefits of our collaboration”, says Andrej Cyba, a Finasta Management Board member and Head of Financial Markets.
Liquidity providing is a common practice to facilitate price formation and promote trading on a stock exchange. Currently Finasta and Orion Securities are liquidity providers in the Baltic Market. The list of the Baltic listed companies which have liquidity providers, including Olainfarm, City Service, Grigiskes, Vilkyškiu Pienine, OMX Baltic Benchmark Fund has now been supplemented by Ekspress Grupp.
About AS Ekspress Grupp
AS Ekspress Grupp is a leading media company in the Baltic region whose activities include publishing, online media and printing services. In 2007, Ekspress Grupp became a public company and its shares were listed on NASDAQ OMX Tallinn. The Group publishes leading weekly and daily newspapers in Estonia and more than twenty magazines in Estonia and Lithuania. Ekspress Grupp owns Delfi which is the largest online media group in the Baltic States and operates news and classified portals in Estonia, Latvia, Lithuania and Ukraine. The Group also owns a modern printing facility specializing mainly to periodicals segment.
About Finasta
Finasta is the largest investment bank in the Baltic region by assets under management and the number of private banking clients. Established in 2008, Finasta specialises in investment and private banking services. The bank provides a package of investment, financial management and corporate finance services to private and corporate clients and offers tailor-made corporate lending solutions. The bank has over 11,000 clients with their investment assets worth EUR 385 million. Finasta is one of the largest brokerage service providers in the Baltic region.
About The NASDAQ OMX Group, Inc.
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 23 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.99+% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world's securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,400 listed companies worth $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com. Follow us on Facebook (www.facebook.com/NASDAQ) and Twitter (www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
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