What advantages Nasdaq Riga offers to its clients
Nasdaq Riga is the only stock exchange in Latvia that offers efficient tools for trading shares and raising capital. Companies, investors and intermediaries operate on the platform. The multifunctional electronic system INET is used for trading operations.
History of the Stock Exchange
The Riga Stock Exchange began operations in 1995. The ringing of a bronze bell accompanied the opening of the first trading session. This symbolised a new era for the country and its entry into the world of stock markets. On the first trading day, Nasdaq Riga presented shares of four companies with a total turnover of 186 lats. Bond trading turnover was 4040 lats. Initially, sessions were once a week. Brokers personally brought floppy disks with pre-prepared orders. Today, due to technological progress, trading is carried out in a radically different way. Electronic systems make it possible to trade remotely and automatically.
The first president of the exchange was Karlis Zerbulis. He paid special attention to shaping the exchange and creating its image for both local and foreign investors. Zerbulis emphasised the advantages of the exchange, including:
– creating a reliable infrastructure for investors, businesses and counterparties;
– guaranteeing transparency and openness in pricing and trading;
– providing investors with access to information about companies;
– monitoring of fair trading by banks.
At the same time, the representative of the platform stressed that it is not responsible for the performance of companies.
Modern history
In 2005, Daiga Auzinia-Melalksne succeeded Tserbulis as director and continued developing and expanding the platform’s activities. At present, the Riga Stock Exchange is part of the NASDAQ OMX structure, the largest group managing trading platforms worldwide. This allows clients to have full access to high-quality services and a trading platform that meets international standards.
In addition, the platform has become the basis for creating a single Baltic market. It represents the shares of Latvian, Estonian, and Lithuanian companies. The depository includes Baltic and Northern European banks.
Today, Nasdaq Riga shows the following results of its work:
– the aggregate turnover of securities is LVL 2.3 billion;
– 560 auctions have been held during its existence;
– the total value of share and government bond issues is LVL 2.6 billion;
– the depository reported transactions worth about LVL 8 billion;
– the depository manages more than 1 million accounts.
All this makes the Riga Stock Exchange one of the most promising and reliable markets in the region.
