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