Mandatum aims to start trading on 25, 2002, when trading in the Tallinn Stock Exchange (TSE) listed securities will start in HEX's trading system. Its application needs to be approved by Financial Supervisory Authority of Estonia and the Management Board of TSE.
Gert Tiivas, CEO of Tallinn Stock Exchange comments: "We are very pleased to welcome Mandatum as the first foreign member of the TSE. It is an important milestone, marking the successful launch of the integration of the Estonian and Finnish securities markets." According to Tiivas, more Nordic brokerage companies have shown interest in becoming members of Tallinn Stock Exchange. "This means that in the near future a growing number of Finnish investors will have an easy and convinient access to to trading in Estonian securities market via their local broker," he said.
"We regard Estonian securities markets as a natural growth area. We want to provide Finnish investors Estonian companies and top quality equity research on main Baltic companies", says Jaakko Niemelä, Managing director of Mandatum Stockbrokers. Mandatum Stockbrokers belongs to Sampo Group, a leading financial group in Finland.
"We are happy that there is a strong interest in applying for TSE membership and that we can enable HEX members to add new products to offer their clients. Extending HEX's member network to Estonian markets will enhance the liquidity and visibility of Estonian markets", says Jukka Ruuska, President and CEO of HEX.
