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), 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.
[2] In 2000 October, Tallinn Stock Exchange and Estonian CSD formed, based on the two companies, a group under single strategic management.
[3] In 2004, as a result of merger between Finnish and Swedish securities market operators into OMX, the Tallinn Stock Exchange adopted new trading platform.