International securities settlement platform creates business opportunities for
customers
Reykjavík/Tallinn/Riga/Vilnius, August 24, 2020 - Nasdaq (Nasdaq: NDAQ)
announces that the final step in the merger of Nasdaq CSD Iceland with Nasdaq
CSD SE (Nasdaq CSD) took place today with the successful technical migration of
the Icelandic securities market to the Nasdaq CSD SE (Nasdaq CSD) securities
settlement platform. The Icelandic branch will now be positioned to leverage
the full potential of Nasdaq CSD's securities settlement platform and links to
create new opportunities for domestic and international clients. Nasdaq CSD
announced the merger with Nasdaq CSD Iceland on May 25.
"This is a very important milestone for the Icelandic securities market," says
Magnus Kristinn Asgeirsson, Head of Nasdaq CSD in Iceland. "Icelandic market
participants and issuers of securities will now enjoy greater service and
choice of products, enabling them to gain more leverage for new business
opportunities. This transition enables us to embrace and advance new innovation
in this field for the benefit of our clients."
Besides numerous advantages for Icelandic market participants, this transition
will ease foreign investors' access to the Icelandic market, through more
standardized settlement and custody procedures in accordance with international
requirements. Future product developments include opportunities for foreign
investors to settle Icelandic securities in Euros and Icelandic companies to
issue securities in Euros.
"This successful migration of the technical part of the merger enables us to
now deliver outstanding services to all of our customers in accordance with
international standards and procedures," says Indars Ascuks, CEO of Nasdaq CSD.
"We welcome our Icelandic clients into a new world of securities settlement and
look forward to working with them in evolving the Icelandic securities market."
Nasdaq CSD has integrated Nasdaq CSD Iceland into its harmonized CSDR compliant
governance and operational model, ensuring safer and more efficient post trade
services in the Icelandic market in accordance with internationally recognized
standards.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital
markets and other industries. Our diverse offering of data, analytics, software
and services enables clients to optimize and execute their business vision with
confidence. To learn more about the company, technology solutions and career
opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at
http://www.nasdaq.com.
About Nasdaq CSD
The Nasdaq CSD Group operates regional central securities depository in the
Baltics and Iceland, with business presence in Estonia, Iceland, Latvia and
Lithuania. It provides post-trade infrastructure and a wide range of securities
services for Baltic and Icelandic market participants. The CSD is a fundamental
element in the financial markets, settling transactions in shares and other
securities issued by companies and governments. Nasdaq CSD has over 50 bn EUR
under custody and services over 7,500 issuers in Iceland and the Baltics.
Nasdaq CSD SE is licensed under the European CSDR and supervised by the
respective regulatory institutions. The depository is powered by
straight-through processing technology connected to the pan-European T2S
platform. Nasdaq CSD is a part of the Nasdaq Group. To learn more, visit:
nasdaqcsd.com.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made
under the Safe Harbor provisions of the Private Securities Litigation Reform
Act of 1995. These statements include, but are not limited to, statements about
Nasdaq and its products and offerings. We caution that these statements are not
guarantees of future performance. Actual results may differ materially from
those expressed or implied in the forward-looking statements. Forward-looking
statements involve a number of risks, uncertainties or other factors beyond
Nasdaq's control. These factors include, but are not limited to factors
detailed in Nasdaq's annual report on Form 10-K, and periodic reports filed
with the U.S. Securities and Exchange Commission. We undertake no obligation to
release any revisions to any forward-looking statements.
Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq
Stockholm, Nasdaq Tallinn, Nasdaq Vilnius, and Nasdaq Clearing are respectively
brand names for the regulated markets of Nasdaq Copenhagen A/S, Nasdaq Helsinki
Ltd., Nasdaq Iceland hf., Nasdaq Riga, AS, Nasdaq Stockholm AB, Nasdaq Tallinn
AS, AB Nasdaq Vilnius, and for the CCP Nasdaq Clearing AB. Nasdaq Nordic
represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq
Iceland and Nasdaq Stockholm. Nasdaq Baltic represents the common offering by
Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius.
Nasdaq CSD Media Relations Contact:
Kristin Johannsdottir - Iceland
Kristin.johannsdottir@nasdaq.com
+354 868 9836© 2020 GlobeNewswire
