Baltic instruments

Lightyear offers a selection of the most popular Baltic stocks and bonds. However, there are some Baltic market specifics that differ a bit from other markets you can invest in.

Typically, Baltic instruments are held in a nominee account with Nasdaq Baltic. However, if you're both a resident and a citizen of Estonia, Lightyear gives you the option to open an individual account instead. You can choose your preferred account type in the app before you make your first Baltic trade – this is a one-time decision, so we recommend choosing the account that best fits your needs.

• Individual CSD accounts offer customer securities segregation – a separate securities account opened in your name with the Nasdaq Baltic Central Securities Depository to hold Baltic instruments.
• Your name/business will appear in the holders' list of the companies that you own.
• Your securities balances are tracked with the Nasdaq Baltic securities depository.
• If you are holding instruments in an individual CSD account in an Investeerimiskonto (Investment Account), you may be eligible to apply for a reduced withholding tax on certain bond coupons. Every bond is a bit different, so you'll need to do independent research to see which ones qualify and if you're eligible. If you need any help with the application, we recommend contacting the bond issuer directly.

• Your Baltic instruments are held in the Nasdaq Baltic Central Securities Depository and on your behalf in a segregated Lightyear clients’ nominee account along with securities of other Lightyear customers. Customers remain the owners of all their investments on Lightyear.
• Your securities balances are tracked by Lightyear.
• While you are the owner of your Baltic instruments, “Lightyear Europe AS Clients” will appear in the holders list of the companies that you own. This means that if a bond issuer offers holder-only perks or opportunities, your participation depends on whether the issuer requests a list of owners from the brokers. You may be included if they ask for that information, but otherwise, you might not be automatically recognised as an individual holder for such offers.
• If your instruments are held in a nominee account, you cannot apply for a reduced tax withholding rate on bond coupons.

If you chose to hold your Baltic instruments in the individual account, you can find the individual Baltic securities account number in your account statement. If you are using the standard nominee account, as your holdings are held under an omnibus Lightyear account, the account number is currently not provided.

All orders will have a 1€ execution fee as for orders on other European exchanges. You can find more information on pricing here.

Due to generally lower trading volumes on Nasdaq Baltic in comparison to other exchanges, you may receive a partially filled order - however, you’ll be informed of this in the Lightyear mobile and web apps.

Market orders for Baltic instruments are filled by Nasdaq Baltic only in the quantity of shares available at the best price level to protect investors from receiving unfavourable pricing. On Baltic markets, which tend to have lower trading volumes, the use of limit orders is requested.

If your order was filled partially, you’ve only received or sold a part of the quantity initially requested. The remaining order has been cancelled and the funds (for buy orders) or shares (for sell orders) left over have been credited back to your Lightyear account.

All Baltic market equities will be held directly with the Nasdaq Baltic Central Securities Depository.

With major Estonian institutions, Lightyear Europe AS has been listed as a custodian for transfer in their web portals to request transfers to other brokers. You can also find more information about instrument transfers at this link.

See also: Bonds and Bond screener