OREANDA-NEWS. The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) announces that as of October 1, Orion Securities and SEB Pank join the Baltic Market Making Program (MMP) designed to increase market liquidity.

Orion Securities will act as a market maker for 3 shares and SEB Pank will provide market in 8 shares of the Baltic Main List. AB bank Finasta already participating in the MMP will be a liquidity provider for one more share.

NASDAQ OMX Baltic MMP was launched on July 1, 2013. In order to encourage members to join this voluntary program and contribute to higher liquidity, NASDAQ OMX has offered a 40% discount on the standard trading fees. A member providing liquidity for at least 3 shares is entitled to a trading fee discount on all shares traded in a given market.

“We welcome Orion Securities and SEB Pank joining our Market Making Program and are happy to have already 4 members providing liquidity for 14 Baltic shares in total,” says Daiga Auzina-Melalksne, Head of Exchange Services at NASDAQ OMX Baltic Market. “Increasing liquidity is key to the future of the Baltic Market, and it is a shared responsibility of us as a market operator and all market participants. We regard the Baltic Market Making Program as a joint commitment and are pleased to see it is gaining momentum.“

The Baltic MMP foresees that a NASDAQ OMX Baltic Market member as a market marker has to ensure that the bid and offer orders of no less than EUR 3000 of value of selected shares have to be available in the opening and closing auctions, as well as during 85 per cent of the trading time. The MMP also foresees that the price spread of bid and offer orders cannot be higher than 2.5 per cent.

„Most important functions of the capital markets are market activity-liquidity and listed companies in the stock exchange. We are glad that business leaders understand that it is important to take care of minority shareholders and to give them opportunity to trade shares actively,“ says Alius Jakubelis, Head of Orion Securities. “Institutional investors also feel more comfortable when liquidity is supported by professional financial brokers. Orion Securities were first provider of market making services in Lithuanian stocks, so we have a lot of experience in this area. We believe that a new Market Making Program will support market liquidity.“

As of October 1, Orion Securities joins the MMP for City Service, Vilkyskiu Pienine and TEO LT shares.

SEB Pank, on behalf of SEB Banka, SEB bankas and Skandinaviska Enskilda Banken, becomes the market marker for Olympic Entertainment Group, Tallink Grupp, Tallinna Kaubamaja, Tallinna Vesi, TEO LT, Apranga, Siauliu Bankas and Linas Agro Group shares.

Finasta will provide liquidity for Tallink Grupp, Ekspress Grupp, Olainfarm, Rokiskio Suris, Linas Agro Group and Grigiskes shares.

LHV Pank already participates in the MMP and provides liquidity for Tallinna Kaubamaja, Olympic Entertainment Group and Tallinna Vesi shares.