Nasdaq CSD SE Eesti filiaal

What Nasdaq CSD SE Eesti filiaal does

Nasdaq CSD SE Eesti filiaal is the Estonian branch of Nasdaq CSD SE, a Central Securities Depository (CSD) that provides post-trade infrastructure for the Estonian, Latvian, Lithuanian, and Icelandic securities markets. Formed through the 2017 cross-border merger of the three Baltic CSDs and supplemented by the 2020 merger with Nasdaq CSD Iceland, the entity operates as a single regional CSD serving 6,800+ issuers with 7,700+ instruments and assets under custody exceeding EUR 68 billion. It was the first CSD in Europe to obtain an operating license under the Central Securities Depositories Regulation (CSDR), and is supervised by regulators in each of its four jurisdictions. As a wholly-owned subsidiary of Nasdaq, Inc. (NASDAQ: NDAQ), it operates within the broader Nasdaq Group's 50+ country footprint.

The underlying technology stack is built around the pan-European TARGET2-Securities (T2S) settlement platform, with ISO 20022 messaging transmitted via SWIFT FINplus, and integrates with Clearstream's Investor CSD solution for cross-border European market access. Core products cover initial securities registration, securities account maintenance, settlement of exchange-traded and OTC trades (DvP and FoP), and corporate actions processing. The entity supplements this core with add-on services including the ESIS ID shareholder identification service (SRD II compliance), automated ISIN code issuance via API (developed with Mintos), the Investor Analytics Solution for investor relations management, the Nasdaq CSD E-Services Portal, Baltic Securities Data products, LEI code services, e-voting, and Latvian state savings bonds via krajobligacijas.lv.

Revenue is generated through a mix of transaction-based fees (one-time securities registration: EUR 30 standard / EUR 100 express in Estonia), recurring quarterly maintenance fees based on market value (e.g., EUR 0.85 per EUR 1,000 of market value, capped), participant fees from banks and brokers, corporate actions processing fees, and data product monetization. Go-to-market is sales-led B2B, with dedicated branch offices in Tallinn, Riga (HQ), Vilnius, and Reykjavik, supplemented by the self-service E-Services Portal for issuers and the Participant Secure Portal for settlement and reporting. Customer segments include listed companies and issuers (primary), banks and brokers as CSD participants (primary), government entities (e.g., Republic of Latvia treasury for savings bonds), and retail investors accessing markets via participant banks.

Name

Nasdaq CSD SE Eesti filiaal

Legal name

Nasdaq CSD SE

Website

https://nasdaqcsd.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Nasdaq CSD SE Eesti filiaal is the Estonian branch of Nasdaq CSD SE, a Central Securities Depository providing securities registration, settlement, custody, and corporate actions processing for 6,800+ issuers across Estonia, Latvia, Lithuania, and Iceland, as a wholly-owned subsidiary of Nasdaq, Inc.

Ownership category

akta.pro rank

Product category

Securities Settlement / Post-Trade Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Central Securities Depositories (CSDs) & Settlement Systems (FSACAHAA)

akta.pro secondary industries

Central Securities Depository (CSD) & Securities Settlement Services (FSAAAOAD), National CSDs & Domestic Settlement Systems (FSAFAGAA), Cross-Border Link Settlement & Interoperability Services (CSD Links) (FSAFAGAF)

Keywords

• Central securities depository
• Post-trade services
• Securities settlement infrastructure
• Corporate actions processing
• ISIN code issuance

Headquarters

HQ city

Tallinn

HQ country

Estonia

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Securities Registration Fees: One-time registration fees for initial recording of securities including shares, bonds, and funds in the CSD registry
2. Securities Maintenance Fees: Periodic (quarterly) maintenance fees based on market value of registered securities, charged to issuers
3. Participant Fees: Fees charged to participants (banks, brokers) for settlement services and account maintenance
4. Corporate Actions Processing: Fees for processing corporate actions such as dividend payments, interest payments, and other corporate events
5. Data Services: Baltic securities data products sold to data vendors and market participants

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Nasdaq CSD SE Eesti filiaal is part of Nasdaq CSD SE, a Central Securities Depository that provides initial recording and safekeeping of securities (shares, bonds, fund units), maintenance of securities accounts, and settlement of exchange trades and OTC transactions across Estonian, Latvian, Lithuanian, and Icelandic markets. The Estonian branch delivers issuer services, participant services, corporate actions processing, and data services to listed companies, banks, brokers, and government entities operating in Estonia, supported by a pan-European T2S-connected infrastructure and ISO 20022 messaging via SWIFT.

Product overview

Nasdaq CSD is a Central Securities Depository (CSD) providing post-trade infrastructure across Baltic markets (Estonia, Latvia, Lithuania) and Iceland. The company operates as a single unified platform offering three core services: initial recording of securities, maintenance of securities accounts, and settlement services. The core platform is supplemented by additional services including ESIS ID for SRD II compliance, Investor Analytics Solution, Automated ISIN Code Issuance API, Baltic Securities Data products, E-Services client portal, LEI Code Service, E-Voting, and Savings Notes. The company is part of the Nasdaq Group and is the first CSD in Europe licensed under CSDR regulation, serving over 6,800 issuers with over 68 billion EUR in assets under custody.

Differentiator

Problem solved

Functional benefit

Products and services

• Securities Registration and Custody Initial recording and maintenance of securities (shares, bonds, fund units) in the CSD register for issuers across Estonia, Iceland, Latvia, and Lithuania markets.
• Settlement Services Settlement of exchange trades, OTC delivery-versus-payment trades, and OTC free-of-payment trades through the T2S platform and local Icelandic settlement system, including cross-border settlement through CSD links.
• Corporate Actions Processing Standardized handling of corporate actions including dividends, capital changes, mergers, takeovers, and interest payments, processed through the E-Services portal for issuers.
• ESIS ID Shareholder identification service enabling intermediaries to fulfill SRD II requirements through ISO 20022 standard communication via SWIFT.
• Investor Analytics Solution Professional investor relations management tool enabling companies to strategically manage their investor base, enhance market communications, and analyze shareholder data.
• Automated ISIN Code Issuance Fully automated 24/7 ISIN code assignment service via API, processing requests in seconds. Developed in partnership with Mintos.
• Baltic Securities Data Daily reports covering issuers data, instruments data and corporate events sold to data vendors and market participants for reference data automation.
• Nasdaq CSD E-Services Portal Online self-service portal for issuers to manage corporate actions processing including dividend payments and installment/interest payments with electronic identification and automated forms.
• LEI Code Service Legal Entity Identifier services platform offering integration with registers to pre-fill applications, multi-year subscriptions, and competitive pricing.
• Savings Notes Latvian state savings bonds offered through krajobligacijas.lv in 1, 3, 5, 7, and 10-year tenors with minimum investment of 50 EUR.
• IPO/Book Building Service Service for organizing public offerings, collecting subscription orders from investors through account operators, and registering them in the CSD system.

Quantifiable outcome

• First CSD in Europe to gain CSDR operating license
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature6 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Euroclear BankcoreTechnology or Integration · 15 June 2026Nasdaq CSD expanded its partnership with Euroclear Bank to unlock access to Baltic corporate securities for international investors. The partnership extends Euroclear Bank eligibility to listed corporate debt securities and equities issued in Estonia, Latvia, and Lithuania.
• ClearstreamcoreTechnology or Integration · 10 September 2024Nasdaq CSD became the first European CSD to gain full connectivity to all T2S markets through Clearstream's Investor CSD solution. This partnership enables Nasdaq CSD participants to access European markets for securities settlement and asset servicing, reducing cross-border settlement fees for foreign securities.
• Lightyear Europe ASminorChannel Partner/ Reseller/ Distributor · 1 January 2024Lightyear Europe was granted broker status for trading on Nasdaq Baltic stock exchanges and account operator status in Nasdaq CSD, enabling the fintech to serve as intermediary for Baltic market investments.
• MintoscoreTechnology or Integration · 29 September 2021Nasdaq CSD and Mintos developed innovative technology for automated ISIN code issuance - the first of its kind in the Baltic region and among the first in Europe. The API-based solution processes ISIN code requests in seconds, enabling 24/7 automated service.

Scale indicators5 records

Recent moves8 records

Expansion highlights6 records

Regional players

• KDPW (Krajowy Depozyt Papierów Wartościowych): Polish CSD providing post-trade services for the Polish capital market under CSDR. Comparable as a CSDR-licensed Central and Eastern European CSD with similar technology and regulatory footprint, though serving a single (larger) market.
• Iberclear: Spanish CSD operated by BME (part of SIX Group), providing settlement and registry services for the Spanish market. Comparable as a CSDR-licensed national CSD with T2S connectivity and corporate actions processing.
• CDCP (Centrální depozitář cenných papírů): Czech CSD providing settlement and registration services for the Czech capital market. Comparable as a smaller CSDR-licensed Central European CSD with overlapping service offerings and technology profile.

Direct peers

• Euroclear: International central securities depository providing cross-border settlement, custody and asset servicing across European and global markets. Directly comparable to Nasdaq CSD as an ICSD/CSD serving issuer and participant post-trade needs; recently expanded Baltic eligibility, increasing direct overlap.
• Clearstream (Deutsche Börse): Post-trade services provider within Deutsche Börse Group offering ICSD and CSD services connected to T2S. Nasdaq CSD adopted Clearstream's Investor CSD solution, making it both partner and the most direct functional peer for cross-border settlement and asset servicing in Europe.
• SIX SIS: Swiss CSD and post-trade infrastructure operator providing settlement, custody and asset servicing for Swiss and international securities. Comparable as a CSDR-licensed national/regional CSD with cross-border capabilities and integrated data services.
• Monte Titoli (Euronext-owned): Italian CSD providing settlement, custody and post-trade services for Italian and international securities. Comparable as a CSDR-licensed national CSD offering issuer services, corporate actions and participant access through T2S.
• Euronext Securities: Central securities depository serving Euronext-listed markets across multiple European jurisdictions. Comparable as a multi-country, exchange-integrated CSD operating under CSDR and offering settlement, custody and corporate actions to issuers and participants.

Broad incumbents

• Nasdaq, Inc. (parent): Global capital markets technology and exchange operator that owns Nasdaq CSD SE. Comparable as a broad incumbent in exchange and post-trade infrastructure, with overlapping technology, market data, and corporate services offerings across global markets.
• LCH (London Stock Exchange Group): Major global clearing house and post-trade operator within LSEG, providing CCP services and related post-trade infrastructure. Adjacent comparable as a broader post-trade incumbent serving European capital markets, with overlapping issuer and participant relationships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/nasdaq-csd

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nasdaq CSD SE Eesti filiaal