Full range of cross-border settlement types available in Baltic securities market

As of April 30, 2007 Baltic CSD introduced cross-border settlement of
over-the-counter delivery versus payment (OTC DVP) transactions. Presently the
Baltic CSDs link solution supports cross border clearing and settlement of OMX
Baltic stock exchange trades, OTC DVP and FOP transactions. 

With introduction of cross-border OTC DVP functionality the Baltic CSDs have
fulfilled the investors and market participants requirement for the clearing
and settlement of full set of transactions types on cross-border secondary
market - stock exchange trades (SE DVP), over-the-counter (OTC DVP) and free of
payment (OTC FOP) transfers. 

The developed functionality supports clearing and settlement of Estonia,
Latvian and Lithuanian securities in their national currencies (EEK, LVL and
LTL respectively). Settlements in other currencies are possible only if
supported by your local cash-clearing agent. 

With introduction of real-time gross settlement of OTC DVP transactions in
Estonia the Baltic CSDs have harmonized their clearing and settlement offers
for local OTC DVP transactions. This functionality is already existing in
Latvian and Lithuanian CSDs. Harmonization of Baltic CSDs' core services and
market practices in line with EU best practices is the basis for our region to
become more attractive both for local as well as for foreign investors. 

The Baltic CSDs continue to further harmonize their services and market
practices for clearing and settlement. As the next step we will introduce
Baltic Market Settlement Practices Guide to facilitate the understanding of the
clearing and settlement practices in Baltic countries. 


For more information, please contact: 
Tex Vertmann, Communications Manager 
Tallinn Stock Exchange
+372 640 8862 

Āris Dreimanis, Head of Corporate Communications 
Riga Stock Exchange
+371 7212431 

Gintare Blazyte, Communication Manager 
Vilnius Stock Exchange
+370 5 272 13 71