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Regional cooperation in implementation of innovative CSD solutions , ESTONIAN CSD / October 2011

Regional cooperation in implementation of innovative CSD solutions , ESTONIAN CSD / October 2011. Basic Facts / Estonian ECONOM y. BALTIC FACTS Population – 7 million (Estonia, Latvia, Lithuania) Latvian & Lithuanian currencies are pegged to the euro .

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Regional cooperation in implementation of innovative CSD solutions , ESTONIAN CSD / October 2011

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  1. Regional cooperation in implementation of innovative CSD solutions, ESTONIAN CSD / October 2011

  2. Basic Facts / Estonian ECONOMy • BALTIC FACTS • Population – 7 million (Estonia, Latvia, Lithuania) • Latvian & Lithuanian currencies are pegged to the euro. • Estonia joined the Euro area on January 1, 2011. • Euro introduction expected in Latvia and Lithuania within 3-5 years. Estonia ESTONIA / TALLINN Population: 1.35 million Language: Estonian Currency: EUR (from Jan. 2011) Moody’s: A1, from negative to Stable Standard & Poor’s: long-term foreign and local currency sovereign credit ratings raised to AA- Short-term local and foreign currency sovereign credit ratings were raised from A-2 to A-1

  3. Who we are Registry of securities of public and private companies • Privatepersons • Funded pensionunitsregistry Active cross-border linkswith other Baltic CSD’s andPolish CSD • NASDAQ OMX Tallinn has extensive pension scheme, registry services, clearing & settlement expertise. • Versatile experience in post-trade area allows us to offer extensive know-how in the field. Being part of the NASDAQ OMX group we have been involved in every aspect of building the Baltic capital market from the ground up. • Our recent developments greatly contribute to our continuing strive for excellence on the region’s securities markets as well as taking the securities infrastructure to a new level in terms of both daily services offered and further integration perspectives. Newdepository system Depend First Europeandepositoryusing ISO 20022 standard Standard interface MessageHub for accessing the CSD services

  4. CHANGES IN THE LANDSCAPE BALTIC MARKETS • Baltic approach – cooperation and harmonization • Simplified cross-border investments in the Baltic region • Trading via single entry point – the next generation INET trading platform • Harmonized link solution between all Baltic CSDs Tremendous rise in volumes and demand for new services • New initiatives in the market • Harmonization of standards • Target2-Securities • EU regulation for CSDs EURO introduction in Estonia from the 1st January 2011 4

  5. RoadMap to the new CSD solution Core CSD PLATFORM (DEPEND) Messaging PLATFORM (MessageHub) • Clearing and settlement • Autonomous central bank money • Settlement streams • Matching standards • Tolerance amounts • Other features (hold/release, linking/grouping, priorities etc.) • Registry business • Flexible account structure • Third-party rights and restrictions • Flexible corporate actions Single standardized entry point to all CSD services SWIFT integration Newest standard of messaging – ISO20022 Easily extendable to cover other services Project initiated: Fund and Pension services live: Estonian CSD services live: Latvian CSD services live: 2008 June 2010 January 2011 April 2011 Project initiated: Estonian CSD services live: 2007 January 2011 5

  6. BENEFITS AND FUTURE • Benefits from recent changes • Compliance with the newest standards • Improved system management and connectivity • Improved quality of service • Simplified access to the services of Baltic CSDs • Smooth introduction of international initiatives such as T2S • Continuing initiatives by Estonian CSD • Further integration of regional services • Helping others learn from the experience • - Implementing depository and pension systems • Offering wider range of services for financial institutions • - Fund administration and portfolio management 6

  7. / THANK YOU! Andres Lips Member of the Board Estonian CSD andres.lips@nasdaqomx.com www.nasdaqomxbaltic.com www.e-register.ee

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