Sub-custody guide: Baltic states
The Baltic markets represent a very small portion of the
European market with a market cap of less than €10bn ($11.4bn) and an
aggregated annual transaction volume of approximately 140,000 trades.
The markets have continued their assimilation into the mainstream European market and during the year this process has been markedly demonstrated by a number of key developments, according to Ulf Noren, regional sub-custody specialist at SEB.
On January 1 2015, Lithuania converted its currency from the
litas to the euro. The Pan-Baltic CSD system development, the x-stream project,
is expected to provide cross-border synergies, improved governance and
strengthened conformity, while T+2 was successfully introduced in all three
markets in October 2014 and the Baltic markets strongly aligned with other
European markets in terms of preparatory work.
The other notable development has been preparation and in
part implementation of a series of European regulatory initiatives and
infrastructure projects, including Ucits V, Mifid II and FTT.
Found this useful?
Take a complimentary trial of the FOW Marketing Intelligence Platform – the comprehensive source of news and analysis across the buy- and sell- side.
Gain access to:
- A single source of in-depth news, insight and analysis across Asset Management, Securities Finance, Custody, Fund Services and Derivatives
- Our interactive database, optimized to enable you to summarise data and build graphs outlining market activity
- Exclusive whitepapers, supplements and industry analysis curated and published by Futures & Options World
- Breaking news, daily and weekly alerts on the markets most relevant to you