Reminder: Changes at NASDAQ OMX Riga with changeover to the euro

LATVIA


Latvia is going to join the euro area as of January 1, 2014.

Considering the changeover in Latvia to the euro as of January 1, 2014, NASDAQ OMX Riga has approved the Transitional provisions of NASDAQ OMX Riga rules “On cash and Financial Instruments Settlement” available on the website Exchange information section - Rules and regulations: http://www.nasdaqomxbaltic.com/en/exchange-information/rules-and-regulations/nasdaq-omx-riga/. The transitional provisions lay down settlement conditions and special terms applied till December 31, 2013.

The last trading day on NASDAQ OMX Riga in 2013 is December 27, 2013.  December 30, 2013 is a trading holiday on NASDAQ OMX Riga, but is included into the settlement cycle.

On  December 27, 2013 during post-trading session NASDAQ OMX Riga will cancel all orders with period of validity “good, till cancelled” (GTC) in all financial instruments’ orderbooks traded in lats.

For trades concluded or reported on the Exchange with shares, corporate bonds and investment certificates in lats settlement date during year 2013 cannot be later than December 30, 2013. The following default settlement period for trades concluded (automatically matched) or reported standard manual trades from December 19, 2013 will be applied:

  • for trades concluded/reported on December 19, 2013 - settlement period T+3 (settlement date December 30, 2013);
  • for trades concluded/reported on December 20, 2013 - settlement period T+2 (settlement date December 30, 2013);
  • for trades concluded/reported on December 27, 2013 - settlement period T+1 (settlement date December 30, 2013).

For trades concluded or reported on the Exchange with Latvian government securities the settlement date for trades concluded or reported during year 2013 cannot be later than December 18, 2013. The following default settlement period for trades concluded (automatically matched) or reported standard manual trades from December 13, 2013 will be applied:

  • for trades concluded/reported on December 13, 2013 - settlement period T+3 (settlement date December 18, 2013);
  • for trades concluded/reported on December 16, 2013 - settlement period T+2 (settlement date December 18, 2013);
  • for trades concluded/reported on December 17, 2013 - settlement period T+1 (settlement date December 18, 2013);
  • for trades concluded/reported on December 18, 2013 - settlement period T+0 (settlement date December 18, 2013).

On December 18, 2013 trading (order entry and trade reporting) with Latvian government securities will take place till 14:00 EET.

Ordinary Trading on NASDAQ OMX Riga will resume on January 2, 2014.

As of 2 January, 2014 all orderbooks traded and settled in lats will be traded and settled in euro.

 

Additional information for issuers, investors, business partners and members about the upcoming changes at NASDAQ OMX Riga and the Latvian Central Depository regarding changeover to euro is available on the Questions & Answers section: http://www.nasdaqomxbaltic.com/en/news/about-changeover-to-euro/

 

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