THE NATIONAL STOCK EXCHANGE OF LITHUANIA . Press Release

Published: 20 February 2000 y., Sunday
   Reports & significant topics

11 February 2000

THE NATIONAL STOCK EXCHANGE OF LITHUANIA

Press Release

The National Stock Exchange of Lithuania (NSEL) announces that the Lithuania Capital Market Development Project, funded by the International Development Agency US (USAID) and implemented by the US company The Pragma Corporation, is successfully entering its final phase. The objective of the Project was to assist the NSEL in development of a new trading system in order to satisfy the growing needs of market participants and meet the requirements of a modern stock exchange.

Technically this objective now can be achieved with the computer and telecommunications equipment of a new generation, donated to the NSEL by the US Government. The whole value of the Project was USD 340 thousand. We are happy to announce that all the equipment is installed, operational and supports the new automated trading system TATS, creation of which was started by the NSEL in June 1999.

The new system is reliable, fast, and flexible. It is a contemporary technical solution. Furthermore, this system is much more user-friendly and allows the market participants to develop their own automated systems. The advanced level of Gateway machines and workstations facilitates an easy connection to the trading systems of other stock exchanges and brings the plans of the NSEL with regard to cooperation with the stock exchanges of other Baltic countries and those of NOREX alliance closer to implementation. Full implementation of the new trading system TATS is scheduled for June 2000.

Rimantas Busila
President of the NSEL

Šaltinis: THE NATIONAL STOCK EXCHANGE OF LITHUANIA
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