Nasdaq Vilnius
Press release
Nasdaq CSD Iceland merges with Nasdaq CSD SE
Nasdaq Consolidates its Central Securities Depository Business in Europe
Reykjavik/Tallinn/Riga/Vilnius, May 25, 2020 – Nasdaq (Nasdaq: NDAQ) today
announced the merger of Nasdaq CSD Iceland with Nasdaq CSD SE (Nasdaq CSD). The
combined company, Nasdaq CSD SE, will operate in Latvia, Estonia, Lithuania and
Iceland. Subsequently to the merger, the Icelandic branch will 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.
Migration of the securities settlement platform in Icelandic markets is
scheduled to be fully implemented on 15 June.
“Today marks a great milestone for our clients in the Icelandic market as we
join Nasdaq CSD and subsequently enter into an international securities
settlement environment,” says Magnus Asgeirsson, Head of Nasdaq CSD Iceland.
“This is by far the most significant infrastructural and technological upgrade
the Icelandic securities market has gone through in the past 20 years and will
enable us to embrace and advance new innovation in this field for the benefit
of our clients.“
Nasdaq CSD, the first CSD in Europe to gain an operating license according to
the European Central Securities Depository Regulation (CSDR), was recently
granted authorization to provide services in Iceland. 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.
“The post-trade environment is changing rapidly and we need to make sure that
customers and investors in our markets have access to best-in-class products
and services at any given time,” says Indars Ascuks, CEO of Nasdaq CSD. “By
combining our operations with Nasdaq CSD Iceland we create a larger, more
diverse and efficient CSD for our clients, making us better equipped to deliver
outstanding customer experience and attract more international customers.”
Indars Ascuks, CEO of Nasdaq CSD continues as CEO of the combined company after
the merger. Magnus Asgeirsson will join the Management Board of Nasdaq CSD, as
well as continue to lead the Icelandic operations of the Nasdaq CSD group.
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 www.nasdaq.com.
About Nasdaq CSD
The Nasdaq CSD Group operates regional central securities depositories 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. Nasdaq, Inc., the ultimate
parent, provides trade and post-trade services in more than 50 countries. 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 Contacts:
Dace Bulte - Baltics
dace.bulte@nasdaq.com
+371 67 212 431