Iceland Stock Exchange

NASDAQ OMX Iceland
Kauphöll Íslands
Type Stock Exchange
Location Reykjavík, Iceland
Founded 1985
Owner NASDAQ OMX
Key people Páll Harðarson (President)
Currency ISK
No. of listings 11
Indexes OMXI6
OMX Iceland All-Share
Website www.nasdaqomx.com

NASDAQ OMX Iceland (Icelandic: Kauphöll Íslands) or ICEX was established in 1985 as a joint venture of several banks and brokerage firms on the initiative of the central bank. Trading began in 1986 in Icelandic government bonds, and trading in equities began in 1990. Equities trading increased rapidly thereafter. A wide variety of firms are currently listed on the exchange, including firms in retail, fishing, transportation, banks, insurance and numerous other areas. Because of the small size of the Icelandic economy and the low cost of public listing, many of the companies traded on the ICEX are relatively small and are relatively illiquid.

All domestic trading of Icelandic bonds, equities and mutual funds takes place on the ICEX. Bonds and equities are regularly traded, though the liquidity is small in comparison with other exchanges. No mutual funds are currently listed on the market. Since its founding, the ICEX has used various electronic systems. Since 2000, it has used the SAXESS system of the NOREX alliance, which allows for the cross-listing of stocks on Nordic stock exchanges. No foreign company lists directly on the ICEX, as the small size and illiquidity of the market makes such a move redundant. Conversely, few Icelandic firms have listed abroad, including DeCODE. Faroese bonds were listed on behalf of Virðisbrævamarknaður Føroya in November 2003, and since December 2007 four Faroese equities have been listed on the OMX Nordic Exchange in Iceland.

Since 1 January 1999, the ICEX has operated as a private company, owned by the listed companies (29%), member firms (29%), the Central Bank of Iceland (16%), pension funds (13%) and the Association of Small Investors (13%).

Páll Harðarson is the current president of the stock exchange. ICEX agreed to be taken over by larger rival OMX Nordic Exchange on 19 September 2006.[1]

On 6 October 2008, the Icelandic Financial Supervisory Authority decided to temporarily suspend trading on regulated market financial instruments issued by Glitnir, Kaupthing Bank, Landsbanki, Straumur Investment Bank, Spron and Exista.[2] When the exchange reopened on 14 October, the stock index fell by 76%.[3]

See also

External links

References


Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Iceland Stock Exchange – ICEX — A stock exchange located in Reykjavik, Iceland. The Iceland Stock Exchange was established in 1985, as a joint venture between some of Iceland s brokerage firms and banks, initiated by Iceland s Central Bank. In 1986, trading began in Icelandic T …   Investment dictionary

  • List of companies listed on the Iceland Stock Exchange — (per October 7, 2008) 365 Alfesca Atlantic Airways Atlantic Petroleum Atorka Group Bakkavör Century Aluminum Company Eik Banki Eimskipafélag Íslands Exista FL Group Flaga Føroya Banki Glitnir banki HB Grandi Icelandair Group Kaupthing Bank… …   Wikipedia

  • Stock Exchange — ist die englische Bezeichnung für Aktienbörse, aber auch Bestandteil von Eigennamen solcher Einrichtungen: American Stock Exchange in New York, USA Bombay Stock Exchange in Mumbai, Indien Dar es Salaam Stock Exchange in Dar es Salaam, Tansania… …   Deutsch Wikipedia

  • Riga Stock Exchange — Historic postcard view of the Riga Stock Exchange building in the very centre of Old Riga The Riga Stock Exchange now NASDAQ OMX Riga is the sole stock exchange operating in Riga, Latvia. It is owned by NASDAQ OMX, which also operates exchanges… …   Wikipedia

  • Helsinki Stock Exchange — Helsingin Pörssi Helsingforsbörsen …   Wikipedia

  • Stockholm Stock Exchange — Stockholmsbörsen …   Wikipedia

  • Tallinn Stock Exchange — The Tallinn Stock Exchange is a stock exchange operating in Tallinn, Estonia. It is one of the OMX Exchanges, which also operates Helsinki Stock Exchange and Stockholm Stock Exchange and is the only regulated exchange in Estonia. It has a pre… …   Wikipedia

  • Copenhagen Stock Exchange — Københavns Fondsbørs Type Stock Exchange Location …   Wikipedia

  • Armenian Stock Exchange — NASDAQ OMX Armenia OJSC Type Joint Stock Company Industry Stock exchange Founded 2001, demutualized in 2007 …   Wikipedia

  • Boston Stock Exchange — The Boston Stock Exchange (now NASDAQ OMX BX, formerly BSE) is a regional stock exchange located in Boston, Massachusetts. The third oldest stock exchange in the United States, it was founded in 1834. On October 2, 2007, Nasdaq agreed to acquire… …   Wikipedia


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.