Nasdaq Merges its Baltic CSDs to Create Nasdaq CSD
Central securities depositories in Estonia, Latvia and Lithuania become a single entity which has joined the pan-European securities settlement platform T2S.
Nasdaq (Nasdaq: NDAQ) today announced the cross-border merger of the central securities depositories (CSDs) of Estonia, Latvia and Lithuania into a single licensed legal entity – Nasdaq CSD Societas Europaea (Nasdaq CSD). Nasdaq CSD is the first CSD in the EU to be reauthorized under the European CSD Regulation (CSDR). This is the first time a common authorization, supervision and regulatory framework for CSDs has been instituted at a pan-European level.
Nasdaq CSD is licensed under the European CSDR and supervised by Baltic authorities cooperating in accordance with the CSDR. More information: http://www.fktk.lv/en/media-room/press-releases/6522-fcmc-authorises-jsc-latvian-central-depository-to-provide-services.html
“The Financial and Capital Market Commission (FCMC) is pleased that Nasdaq CSD SE, the first authorised according to CSDR central securities depository in the European Union, has chosen Latvia as its country of residence. FCMC will be main competent authority for supervision of market infrastructure that now will play a significant role in the functioning not only of Latvian securities market but also markets of neighbouring countries; therefore we see our new role with a great sense of responsibility. FCMC will establish and lead Nasdaq CSD SE supervisory college in close cooperation with supervisory authorities and central banks of Lithuania, Estonia and Latvia,” says Gunta Razāne, FCMC Deputy Chairwoman.