{{Infobox company | name = Nasdaq CSD | logo = Nasdaq blue black transparent backgr.png | image = Nasdaq Riga birojs.jpg | image_size = <!--250px--> | image_caption = Nasdaq CSD headquarters in Riga | type = Societas Europaea | industry = Central securities depository | founded = {{start date and age|2017|09|18}} | predecessor = {{ubl| * Eesti Väärtpaberikeskus * Latvijas Centrālais depozitārijs * Lietuvos centrinis vertybinių popierių depozitoriumas * Verðbréfaskráning Íslands }} | headquarters = Riga, Latvia | area_served = Estonia, Iceland, Latvia, Lithuania | key_people = Indars Aščuks (Chairperson and CEO) | revenue = €16.54 million (2024) | assets = €76.9 billion assets under custody (2024) | parent = Nasdaq, Inc. | website = {{URL |https://nasdaqcsd.com/}} }}
'''Nasdaq CSD''' is a regional central securities depository (CSD) for Estonia, Iceland, Latvia, and Lithuania. As part of Nasdaq, Inc., it provides post-trade infrastructure for the securities markets in those countries. The depository administers securities and settles trades in shares, bonds, and other financial instruments.
==History== Following the restoration of independence in the 1990s, Latvia, Lithuania, and Estonia established national central securities depositories. The Central Securities Depository of Lithuania (CSDL) was launched in 1994, with similar institutions created in Estonia and Latvia. By the 2000s, these CSDs became part of the Nasdaq group but operated independently.<ref>{{Cite web|url=https://www.imf.org/-/media/Files/Publications/WP/2018/wp1866.ashx|title=Wayback Machine|website=www.imf.org}}</ref>
On 18 September 2017, Nasdaq merged the CSDs of Estonia, Latvia, and Lithuania to form Nasdaq CSD SE, a Societas Europaea registered in Riga.<ref name="auto4">{{Cite web|url=https://eng.lsm.lv/article/economy/business/baltic-bourses-merge-their-depositories.a250525/|title=Baltic bourses merge their depositories|website=eng.lsm.lv}}</ref><ref name="auto1">{{Cite web|url=https://www.globalcustodian.com/nasdaq-creates-new-csd-after-consolidating-baltics-entities/|title=Nasdaq creates new CSD after consolidating Baltics entities|date=September 18, 2017}}</ref> The merger was influenced by the EU's Central Securities Depositories Regulation (CSDR) and the TARGET2-Securities (T2S) platform.<ref name="auto">{{Cite web|url=https://www.ecb.europa.eu/press/intro/mip-online/2017/html/201709_article_T2S_migration_wave_completed.en.html|title=Congratulations Europe – the final T2S migration wave has been completed|first=European Central|last=Bank|date=October 5, 2018|website=European Central Bank}}</ref> Nasdaq CSD was the first CSD licensed under the CSDR.<ref name="auto4"/><ref name="auto1"/> The headquarters was established in Riga, with branches in Tallinn and Vilnius.<ref name="auto4"/> The new entity also joined the T2S settlement system.<ref name="auto"/><ref name="auto1"/>
The '''Icelandic Securities Depository''' (Icelandic: Verðbréfaskráning Íslands hf.) began its operations on 29 June 2000 and was established by the Central Bank of Iceland and various other Icelandic market participants.<ref>{{Cite web|url=https://www.stjornarradid.is/efst-a-baugi/frettir/stok-frett/2000/06/29/Opnun-Verdbrefaskraningar-Islands-29.06.00-/|title=Opnun Verðbréfaskráningar Íslands, 29.06.00 -|website=www.stjornarradid.is}}</ref> In 2006 OMX AB acquired all shares in the Icelandic CSD and later OMX AB became part of the Nasdaq Nordic group in 2007.<ref>{{Cite web| title=Kaup OMX AB á Eignarhaldsfélagi Verðbréfaþings hf | language=is | trans-title=OMX AB's acquisition of Eignarhaldsfélag Verðbréfaþing hf. | url=https://www.samkeppni.is/media/samkeppniseftirlit/akvardanir/2006/akvordun42_2006_kaup_omx_a_eingarhaldsfelagi_verdbrefathings.pdf | archive-url=https://web.archive.org/web/20241108155235/https://www.samkeppni.is/media/samkeppniseftirlit/akvardanir/2006/akvordun42_2006_kaup_omx_a_eingarhaldsfelagi_verdbrefathings.pdf | archive-date=2024-11-08}}</ref><ref>{{Cite web | title=NASDAQ and OMX to Combine {{!}} Nasdaq, Inc. | url=https://ir.nasdaq.com/news-releases/news-release-details/nasdaq-and-omx-combine | access-date=2026-02-27 | website=ir.nasdaq.com}}</ref> In 2015, the Icelandic CSD changed its name to Nasdaq verðbréfamiðstöð or Nasdaq CSD Iceland hf.<ref>{{Cite web|url=https://www.vb.is/frettir/verdbrefaskraning-islands-verdur-nasdaq-verdbrefamidstod/|title=Verðbréfaskráning Íslands verður Nasdaq verðbréfamiðstöð|website=www.vb.is}}</ref> In 2020, Nasdaq CSD Iceland was merged into Nasdaq CSD SE, which was announced on 25 May 2020.<ref name="auto6">{{Cite web|url=https://eng.lsm.lv/article/economy/business/iceland-joins-baltic-unified-csd-system.a361129/|title=Iceland joins Baltic unified CSD system|website=eng.lsm.lv}}</ref><ref name="auto2">{{Cite web|url=https://www.icelandreview.com/news/economy/nasdaq-central-securities-iceland-merges-with-nasdaq-csd/|title=Nasdaq Central Securities Depository in Iceland Merges with Nasdaq CSD|first=Jelena|last=Ćirić|date=May 25, 2020}}</ref> The Icelandic market's settlement system migrated to the Nasdaq CSD platform on 24 August 2020.<ref>{{Cite web|url=https://ecsda.eu/archives/13131|title=Nasdaq CSD finalises migration of securities settlement platform to Icelandic securities market – ECSDA}}</ref> Nasdaq CSD received regulatory approval under the EU’s CSD regulation (CSDR) to operate in Iceland.<ref name="auto2"/>
==Operations== Nasdaq CSD SE is a Societas Europaea incorporated in Latvia, with a head office in Riga and branches in Estonia, Lithuania, and Iceland.<ref name="auto6"/> It is a wholly owned subsidiary of Nasdaq through Nasdaq Nordic.<ref name="auto3">{{Cite web|url=https://www.clearstream.com/clearstream-en/res-library/market-coverage/market-infrastructure-estonia-1281482|title=Market infrastructure - Estonia|website=www.clearstream.com}}</ref> The CSD is authorized under the EU's CSD Regulation and supervised by the financial regulators of Latvia, Estonia, and Lithuania, with the Icelandic branch overseen by Icelandic financial regulators and central bank.<ref name="auto3"/><ref name="auto2"/><ref name="auto5">{{Cite web | title=Central Bank of Iceland {{!}} Oversight of financial market infrastructures | url=https://cb.is/payments/oversight-of-financial-market-infrastructures/ | archive-url=https://web.archive.org/web/20250420092314/https://cb.is/payments/oversight-of-financial-market-infrastructures/ | access-date=2026-02-27 | archive-date=2025-04-20}}</ref>
The CSD's infrastructure is integrated with TARGET2-Securities (T2S), which it joined in 2017.<ref name="auto1"/> Euro-denominated transactions from the Baltic markets are settled in central bank money via TARGET2 on T2S.<ref name="auto4"/> Securities transactions in Icelandic króna in Nasdaq CSD’s Icelandic securities settlement system via the Central Bank of Iceland’s interbank system.<ref name="auto2"/><ref name="auto5"/>
As of 2024, Nasdaq CSD held over €76.9 billion in securities and serviced over 7,986 issuers.<ref>{{Cite web | url=https://nasdaqcsd.com/wp-content/uploads/2025/10/Nasdaq-CSD-Annual-Report-2024.pdf | title=NASDAQ CSD SE - 2024 Annual Report | website=nasdaqcsd.com}}</ref> It is a member of the European Central Securities Depositories Association (ECSDA) and Association of National Numbering Agencies (ANNA), and is responsible for the issuance and monitoring of ISIN's for Icelandic and Baltic securities.<ref name="auto6"/>
==Services== Nasdaq CSD provides post-trade services, including the central safekeeping of securities and the maintenance of securities accounts. It facilitates the clearance and settlement of trades. Baltic market settlements are conducted via the TARGET2 payment system, while the platform also handles local currency settlements, such as the Icelandic króna.<ref name="auto3"/>
The CSD also provides various issuer and investor services. It manages the registration of new securities and administers corporate actions, such as dividend distribution, interest payments, and corporate events like stock splits. It also handles proxy voting and general meeting services.<ref name="auto3"/>
Other services include maintaining shareholder registers, providing cross-border links to other CSDs, assigning ISIN codes as the national numbering agency, and operating a Legal Entity Identifier (LEI) issuance service.<ref name="auto"/> The CSD also provides data services and market statistics.<ref name="auto3"/>
==References== {{reflist}}
Category:Financial services companies established in 2017 Category:Companies based in Riga Category:Central securities depositories Category:Clearing houses Category:Financial services companies of Latvia