OREANDA-NEWS. Active trading continued in the third quarter on the Tallinn Stock Exchange and the number of individuals investing in funds rose. Trading within the Baltic States was also more active than expected, reported the press-centre of Tallinn Stock Exchange.

The number of stock exchange transactions performed this year is nearly twice the number performed last year (115 180 compared to 62 893 in 2006). The TSE’s turnover since the beginning of the year is BEUR 1,184 (2006: MEUR 766,2).

The activity of cross-border trading within the Baltic countries has increased significantly. The number of securities transactions between Estonia, Latvia and Lithuania is also almost twice the number as last year. 8178 securities transactions were performed between Estonian and Latvia and 56 131 securities transactions were performed between Estonia and Lithuania.

"The third quarter of this year was very active despite the summer season and I am glad to have witnessed an increasing share of private individuals trading on the stock exchange. We are trying to involve new investors and we invite all those interested to participate in the Investment Fair over the weekend," said Pille Parikas, CEO of the TSE.

Despite active trading, the OMX Tallinn index fell 6,41% in 3Q to 899,95 points. The OMX Baltic Benchmark (OMXBBCAPGI) remained practically at the same level as in the previous quarter, rising 0,68% to 729,02 points.

Investment funds registered with the Estonian CSD totalled MEUR 698,2 as of the end of 3Q, of which private individuals’ investments amounted to MEUR 169,2. A total of 15 033 individuals had invested in funds as of the end of September.

"The Estonian CSD investment funds statistics show that the popularity of funds continues to increase. I hope that investors’ choices are facilitated by the Fund Centre administered in cooperation between the TSE and the Estonian CSD, as well as the weekly funds overview Fondinadal, where specialists in the field introduce investment possibilities in various regions," said Kristel Johanson, CEO of the Estonian CSD.

As of the end of 3Q, there were 6545 companies registered in the Estonian CSD of which 5086 were public limited companies. The registration of shares of private limited companies has slowed down since the previous quarter; only 87 private limited companies registered their shares in 3Q; as of the end of September a total of 1459 private limited companies are registered in the central register. The value of securities registered with the Estonian CSD totals BEUR 10,09.

The list of TSE market professionals was extended by two new member firms in 3Q: Bankas Snoras AB became a member in August and Svenska Handelsbanken joined at the beginning of September and received the status of an account administrator on the Estonian CSD.

As a result of the division of the listed company Viisnurk, the company that inherited the name Viisnurk, operating in the furniture business, was listed on the main list of the TSE at the end of September. A real estate development company that was already previously listed on the TSE main list was re-named as Trigon Property Development.

In the coming weeks, the Riigkogu will pass an amendment to the Securities Market Act that will provide the expected legal basis for launching an alternative market. The legal amendment will also facilitate integration of the securities markets of the EU Member States, and enhance investor protection and the transparency of investment services.