The Financial Supervision Authority designated the additional liquid shares admitted to trading on the market
On February 25, 2010, the management board of the Financial Supervision Authority decided to designate two additional liquid shares:
• Tallink Grupp AS (EE3100004466);
• Olympic Entertainment Group AS (EE3100084021).
Pursuant to European Commission Regulation (EC) No 1287/2006, the Financial Supervision Authority must guarantee that a list of all liquid shares admitted to trading on the regulated market is prepared and published at least one a year.
The purpose of determining liquid assets is to promote competition between trading venues, which creates more options for investors, reduces transaction costs and makes the share pricing process more transparent. Determination of liquid shares creates the obligation to publish additional trading information for investment firms.
At present, there are no shares in Estonia that comply with the terms and conditions of liquid shares stipulated in the aforementioned regulation, i.e. the average daily number of transactions in the share is not less than 500 and the average daily turnover for the share is not less than EUR 2 million.
If there are no liquid shares as specified in the regulation on the market, the Financial Supervision Authority as the competent supervision agency of the Member State has the right to designate the shares among those admitted to trading on the market that are deemed to have a liquid market, or additional liquid shares.
Calculation results and the classification of shares can be found in the database of the EU Markets in Financial Instruments Directive (MiFID) at http://mifiddatabase.cesr.eu