Bringing Nasdaq CSD Iceland’s securities settlement onto the platform used by Nasdaq CSD SE in the Baltics is expected to bring synergies.

In a press release Monday, Nasdaq CSD Iceland head Magnus Asgeirsson describes the shift as a milestone for his Icelandic market clients, “as we join Nasdaq CSD and subsequently enter into an international securities settlement environment”.

Nasdaq CSD SE – acting as the CSD of Baltic nations Estonia, Latvia and Lithuania – was recently authorised to offer its services in Iceland. According to the press release it has now “integrated Nasdaq CSD Iceland into its harmonized CSDR compliant governance and operational model, ensuring safer and more efficient post trade services”. The system migration of Iceland’s CSD activities to the Nasdaq CSD SE platform is scheduled to be ready on 15 June.

PostTrade 360 Nordic 2024

“More diverse and efficient”

 “By combining our operations with Nasdaq CSD Iceland we create a larger, more diverse and efficient CSD for our clients, making us better equipped to deliver outstanding customer experience and attract more international customers,” says Indars Ascuks, CEO of Nasdaq CSD SE.

CSD competition in the Nordic/Baltics has heated up recently, with Europe-leading exchange group Euronext capturing control of the CSDs in Norway and Denmark, while Euroclear holds Sweden’s and Finland’s. Nasdaq is the region’s dominant exchange operator and a leading clearing house operator. While each of Nasdaq’s four CSD nations is smaller than the four big Nordic countries, this competitive setting in the region’s infrastructure gives them combined importance for Nasdaq.

(Photo: Vladimir Riabinin / Unsplash)