The Nasdaq Tallinn AS, formerly known as the Tallinn Stock Exchange, is a
stock exchange
A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for ...
operating in
Tallinn
Tallinn is the capital city, capital and List of cities in Estonia, most populous city of Estonia. Situated on a Tallinn Bay, bay in north Estonia, on the shore of the Gulf of Finland of the Baltic Sea, it has a population of (as of 2025) and ...
,
Estonia
Estonia, officially the Republic of Estonia, is a country in Northern Europe. It is bordered to the north by the Gulf of Finland across from Finland, to the west by the Baltic Sea across from Sweden, to the south by Latvia, and to the east by Ru ...
. Nasdaq Tallinn is the only regulated secondary securities market in Estonia. The major stock market index is Nasdaq Tallinn, formerly known as TALSE.
History
The foundation of Estonian Central Securities Depository in 1994 created the basis for the development of the secondary market based on electronic trading system. This was realized with the founding of the Tallinn Stock Exchange in April 1995 by 10 commercial banks, 9 brokerage firms and state players (Hüvitusfond,
Bank of Estonia, and
Ministry of Finance
A ministry of finance is a ministry or other government agency in charge of government finance, fiscal policy, and financial regulation. It is headed by a finance minister, an executive or cabinet position .
A ministry of finance's portfoli ...
), equal holding of each of them. Licensed by the Ministry of Finance, Tallinn Stock Exchange opened for trading on May 31, 1996, with 11 securities listed.
June 3 was the first calculation day for the TALSE index.
In 1999 September 24, The alliance of Nordic Exchanges (
NOREX) formally invited Tallinn Stock Exchange, alongside Riga Stock Exchange and the National Stock Exchange of Lithuania, to start negotiations for the potential merger with the union.
In 2001 May 28, the Baltic exchanges and the NOREX officially announced that they suspended further cooperation.
In 2000 October, Tallinn Stock Exchange and Estonian CSD formed, based on the two companies, a group under single strategic management.
In 2001 April, HEX Group from Finland acquired strategic ownership in the Tallinn Stock Exchange Group. Trading in Estonian securities in the HEX trading system started on February 25, 2002.
In 2003 September 4, The first day of operations for
OMHEX, the new parent company of HEX Tallinn, created by the merger of Swedish OM and Finnish HEX.
In 2004, as a result of merger between Finnish and Swedish securities market operators into OMX, the Tallinn Stock Exchange adopted new trading platform.
In 2007, the alternative market “First North” was launched.
In 2008,
NASDAQ
The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...
and OMX merged; NASDAQ OMX Group, Inc. was formed. OMX Tallinn became NASDAQ OMX Tallinn.
In 2014, NASDAQ OMX Group, Inc. changed its business name to Nasdaq, Inc. NASDAQ OMX Tallinn became Nasdaq Tallinn.
Tradable securities
Main list
As of August 2022, there were 18 companies listed on the main list of Nasdaq Tallinn:
*
Arco Vara (ARC1T)
*
Baltika (BLT1T)
*
Coop Pank (CPA1T)
*
EfTEN Real Estate Fund III (EFT1T)
*
Ekspress Grupp (EEG1T)
*
Enefit Green (EGR1T)
*
Harju Elekter (HAE1T)
*
Hepsor (HPR1T)
*
LHV Group (LHV1T)
*
Merko Ehitus (MRK1T; previously MKO1T)
*
Nordecon (NCN1T; previously
Eesti Ehitus)
*
PRFoods (PRF1T)
*
Pro Kapital Grupp (PKG1T)
*
Silvano Fashion Group (SFGAT; previously PTA Grupp, PTAAT)
*
Tallink Grupp (TAL1T)
*
Tallinna Kaubamaja Grupp (TKM1T)
*
Tallinna Sadam (TSM1T)
*
Tallinna Vesi (TVEAT)
Secondary List
As of August 2022, there were two companies listed on the Secondary List of Nasdaq Tallinn:
*
Nordic Fibreboard (SKN1T)
* Trigon Property Development (TPD1T)
Bond List
As of 2019 May, there were 7 corporate bond issues listed on the Bond List of Nasdaq Tallinn:
* Admiral Markets 8% subord. bond
* Baltic Horizon Fund 4.25% bond
* Inbank 7.00% subord. bond
* LHV Group 7.25% subord. bond
* LHV Group 6.50% subord. bond
* LHV Group 6.00% subord. bond
* UPP Olaines 7.00% subord. bond
Fund List
As of 2019 May, there were the units of one investment fund listed on Nasdaq Tallinn Fund List:
* Baltic Horizon Fund
Nasdaq First North
As of August 2022, the securities of 12 companies were being traded on Nasdaq Tallinn First North market:
* Airbot Technologies (AIR)
* Bercman Technologies (BERCM)
*
Cleveron Mobility
Cleveron is an Estonian company which produces robotics-based parcel terminals for retail and logistics sectors. Cleveron headquarters are located in Viljandi, Estonia.
Cleveron was established in 2007 when online furniture store ON24's logisti ...
(CLEV)
* Estonian Japan Trading Company (EJTC)
* ELMO Rent (ELMO)
* Hagen Bikes (HAGEN)
* Linda Nektar (LINDA)
*
MADARA Cosmetics (MDARA)
* Modera (MODE)
* Punktid Technologies (PNKTD)
* Robus Group (ROBUS)
* Saunum Group (SAUNA)
Trading Day
Formerly listed companies
*
Eesti Telekom (ETLAT)
*
Eesti Ühispank
*
Estiko
*
Hansapank
*
Kalev (KLV1T), later Luterma AS
*
Norma Norma may refer to:
* Norma (given name), a given name (including a list of people with the name)
** Norma Lizbeth Ramos, a Mexican bullying victim
Astronomy
*Norma (constellation)
* 555 Norma, a minor asteroid
* Cygnus Arm or Norma Arm, a spiral ...
(NRM1T)
*
Olympic Entertainment Group (OEG1T)
*
Saku Õlletehas
Operating under the business name Saku Õlletehase AS, Saku Brewery is an Estonian producer of beer and other beverages. It was founded in 1820 by the local Baltic German landlord Graf .
Since 2008 Carlsberg Group has been the sole owner of Sa ...
(SKU1T)
*
AS Starman (SMN1T)
*
Tallinna Farmaatsiatehas (TFA1T)
See also
*
List of stock exchanges
A list is a set of discrete items of information collected and set forth in some format for utility, entertainment, or other purposes. A list may be memorialized in any number of ways, including existing only in the mind of the list-maker, but ...
*
List of European stock exchanges
In the European region, there are multiple stock exchanges among which five are considered major (as having a market cap of over US$1 trillion):
*Euronext, which is a pan-European, Dutch-domiciled and France-headquartered stock exchange compo ...
*
Nasdaq Copenhagen
The Nasdaq Copenhagen, formerly known as the Copenhagen Stock Exchange (), is an international marketplace for Denmark, Danish securities, including shares, Bond (finance), bonds, treasury bills and notes, and financial Futures contract, future ...
*
Nasdaq Stockholm
Nasdaq Stockholm, formerly known as the Stockholm Stock Exchange (), is a stock exchange located in Frihamnen, Stockholm, Sweden. Founded in 1863, it has become the primary securities exchange of the Nordic countries. As of March 2021, a total ...
*
Nasdaq Helsinki
Nasdaq Helsinki, formerly known as the Helsinki Stock Exchange (, ), is a stock exchange located in Helsinki, Finland. Since 3 September 2003, it has been part of Nasdaq Nordic (previously called ''OMX''). After the OMX merger, it was referred t ...
*
Nasdaq Vilnius
*
Nasdaq Riga
The Nasdaq Riga, formerly Riga Stock Exchange, is the sole stock exchange operating in Riga, Latvia. It is owned by Nasdaq, which also operates exchanges in the USA, Denmark, Sweden, Finland, Iceland, Armenia, Lithuania, and Estonia. Established ...
*
Nasdaq Iceland
The Nasdaq Iceland, formerly known as the Iceland Stock Exchange (ICEX) ( ), is a Stock exchange, stock exchange for Icelandic Bond (finance), bonds and equities. Companies in sectors such as retail, fishing, transportation, banking and real esta ...
References
External links
Official websiteNasdaq Baltic Index
{{coord, 59.4064, N, 24.7926, E, source:wikidata, display=title
Financial services companies established in 1996
Economy of Estonia
Stock exchanges in Europe
Tallinn
Tallinn is the capital city, capital and List of cities in Estonia, most populous city of Estonia. Situated on a Tallinn Bay, bay in north Estonia, on the shore of the Gulf of Finland of the Baltic Sea, it has a population of (as of 2025) and ...
Nasdaq Nordic
Economy of Tallinn