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The NASDAQ OMX Group, Inc. announces that as of October 30, 2012 Finasta bank will become a liquidity provider for the shares of Ekspress Grupp listed on NASDAQ OMX Baltic Main List. Ekspress Grupp is the second issuer whose shares are covered by Finasta.
Finasta, in the capacity of the liquidity provider for Ekspress Grupp, will maintain demand and supply for the company’s shares at the total value of EUR 3000, thus allowing investors to sell or buy the shares at a price that will differ from the last price in the market by no more than 2%.
„NASDAQ OMX Baltic is glad to witness that Finasta becomes a liquidity provider for another listed company on NASDAQ OMX Baltic Market. As liquidity is crucial for the financial markets to function properly, there is no doubt that having a market maker will benefit trading in Ekspress Grupp shares and will add liquidity to the market as a whole“, says Daiga Auzina-Melalksne, Head of Exchange Services, NASDAQ OMX Baltic Market.
"In April we successfully started co-operation on liquidity providing with Olainfarm. Based on this positive experience, we have approached other Baltic listed companies, offering them to use market making service. Now we are pleased to have established co-operation with Ekspress Grupp, and we are confident that the company's shareholders and potential investors in the near future will evaluate the benefits of our collaboration”, says Andrej Cyba, a Finasta Management Board member and Head of Financial Markets.
Liquidity providing is a common practice to facilitate price formation and promote trading on a stock exchange. Currently Finasta and Orion Securities are liquidity providers in the Baltic Market. The list of the Baltic listed companies which have liquidity providers, including Olainfarm, City Service, Grigiskes, Vilkyškiu Pienine, OMX Baltic Benchmark Fund has now been supplemented by Ekspress Grupp.
